Hyundai Motor, Kia Motors, and LG Chem launch global competition
Hyundai Motor Company, Kia Motors Corporation, and LG Chem announced that they are jointly sponsoring the “EV & Battery Challenge” (EVBC), a global competition to identify up to 10 EV and battery startups for potential investment and collaboration. New Energy Nexus, an international startup support organization, will manage and facilitate the competition.
The chosen startups will have the opportunity to work hand-in-hand with the three companies to develop proof-of-concept projects while leveraging the sponsors’ technical expertise, resources, and laboratories. The global competition offers startups the opportunity to showcase their respective innovative technologies and unique business models. Through the EVBC, the three sponsors aim to identify and secure core technology capabilities that will bring more value to their customers.
Startups that have working prototypes and are building technologies in EV charging and fleet management, power electronics and components, personalization services, as well as battery management, systems, materials, recycling, and manufacturing are encouraged to participate. They can apply through www.evbatterychallenge.com from June 22 to August 28.
Applicants that pass the first review on business feasibility and technology will go through virtual interviews in October. Then, the finalists will attend a two-day workshop in November at the Hyundai CRADLE Silicon Valley office, the hub for the automaker’s open innovation in the U.S. There, all three companies will be verifying the innovative technologies of the applicants.
“We are widening our collaboration with startups that have promising and innovative ideas,” said Youngcho Chi, President and Chief Innovation Officer of Hyundai Motor Group. “We look forward to working with various startups that will lead the global EV market and next-generation battery innovation through a joint program with LG Chem, which has world-class battery technology.”
Last year, LG Chem hosted “The Battery Challenge” to discover innovative technologies in the battery business, and, this year, it says it has partnered with Hyundai and Kia to create more synergy in the EV sector.
For more information, visit www.kia.com.