With the Green Peace movement at an all-time high, the demand for EVs is growing. But batteries for EVs don’t just fall from the sky, to meet demand, Hyundai, Kia, and LG Chem are hosting a competition to find ten start-up companies to invest in to grow EV and battery tech to make it affordable and efficient for the public.
Hyundai and Kia Hold a Competition
This global competition to find up to 10 start-up companies to collaborate with the Hyundai, Kia, and LG Chem will be conducted and facilitated by New Energy Nexus. This organization is known for international start-up support. This competition is an excellent plan by the Korean automakers as this move can help them achieve its goal of being a top-three EV manufacturer by 2025. Hyundai Motor Group claims they want to have 44 eco-friendly vehicles by 2025, and 23 of which will be EVs.
The winners of the EV and Battery Challenge will develop proofs-of-concept while getting access to sponsors’ technical expertise, resources, and labs. The competing start-ups will demonstrate its innovative technologies and business models, and from this, the sponsors hope to gather core technologies capable of bringing value to customers.
Participants who are interested in competing should do so on www.evbatterychallenge.com from June 22 to August 28. These companies will be going through review processes, virtual interviews, and will finally attend a two-day workshop in November at the Hyundai CRADLE Silicon Valley office.
EV and Battery Challenge Conclusion
This competition is a very cool opportunity that Hyundai, Kia, and LG Chem have put together. It is a unique way of placing start-up companies in a position to display its talents and bring quality affordable products for us. I am excited to see how far Hyundai-Kia can get in its EV endeavors.
Read about Hyundai-Kia’s heat pump EV technology here.
Kevin Meyn is an automotive journalist for Torque News concentrating on Hyundai content. Kevin is the founder of Exhaust Sports Auto Youtube channel, where he does professional car reviews on new and used vehicles. Through the use of various resources and extended Automotive expertise, Kevin documents the latest in automotive news revolving around Hyundai. Kevin graduated from NC State University studying Supply Chain Management but has had a passion for cars since he was a child. Follow Kevin on Twitter and Instagram @exhaustsports.