Hyundai·Kia Motors and LG Chem Collaborate to Discover Promising Startups in 'Electric Vehicles and Batteries'

Hyundai Kia Motors Yangjae-dong Headquarters.

[Asia Economy Reporter Kiho Sung] Hyundai Motor Company, Kia Corporation, and LG Chem are jointly launching a promising startup discovery program in the electric vehicle and battery sectors. This initiative aims to explore strategic collaboration opportunities through expanded exchanges with the global startup ecosystem and to secure future core technological capabilities that innovate customer value.

On the 18th, Hyundai Motor Company announced that it will conduct a startup contest program named the "Electric Vehicle & Battery Challenge." This contest targets domestic and international startups possessing differentiated innovative technologies and business models in the electric vehicle and battery fields.

Startups wishing to participate can apply through the dedicated application website from the 22nd of this month until the 28th of next month.

The application fields are divided into seven categories: ▲ next-generation battery materials to increase EV driving range and safety ▲ control and maintenance technologies to enhance battery efficiency and usability ▲ reuse and recycling technologies for used batteries to reduce battery costs ▲ process technologies to improve battery productivity and quality control ▲ electric vehicle drive components ▲ electric vehicle charging and energy management ▲ electric vehicle personalization services.

Startups that pass the first round of document screening, which evaluates business feasibility and technological capability, will proceed to face-to-face interviews via video conference in October.

The final selected startups will attend a workshop held in November at Hyundai CRADLE, Hyundai Motor Group’s open innovation hub in Silicon Valley, USA, where discussions to concretize mutual collaboration will continue.

Hyundai Motor Company, Kia Corporation, and LG Chem plan to conduct technical verification with relevant departments of each company for the final selected startups and consider strategic investments linked to this.

Jiyoung Jo, President of Hyundai Motor Group, said, “Hyundai and Kia are expanding collaboration with startups that have innovative ideas and high future growth potential. Through this joint program with LG Chem, which possesses world-class battery technology, we look forward to partnerships with various startups that will lead the global electric vehicle market and next-generation battery innovation.”

Myunghwan Kim, CPO of LG Chem’s Battery Business Division and Head of the Battery Research Institute, stated, “LG Chem is striving to continuously secure leadership in new battery technologies through active open innovation activities. We will actively nurture promising startups together with Hyundai and Kia, who are focusing their capabilities on eco-friendly vehicles, to strengthen competitiveness in the electric vehicle sector.”

This content was produced with the assistance of AI translation services.