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Hyundai to invest $7M in battery, electrification research with IITs

YourStory

YourStory · 8m ago

Hyundai to invest $7M in battery, electrification research with IITs

Hyundai Motor Group has partnered with three Indian Institutes of Technology (IIT) to establish a collaborative research system in the fields of batteries and electrification. The group, which will invest $7 million over five years, has joined forces with IIT Delhi, IIT Bombay, and IIT Madras. The Hyundai Center of Excellence will be set up within IIT Delhi and will focus on driving advancements in batteries and electrification that meet the unique requirements of the Indian market. The collaboration will also facilitate exchanges between battery and electrification experts from Korea and India.

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'Can we build new IITs by just watching IPL?': IITian calls out India’s funding priorities

Business Today

Business Today · 2m ago

'Can we build new IITs by just watching IPL?': IITian calls out India’s funding priorities

India prioritizes cricket over science in funding, sparking debate. Career coach Virendra Grover highlights IISc professor Mayank Shrivastava's critique that IPL revenues could build ten new IITs if taxed. Shrivastava argues India doesn't lack money but the will to invest in science. IPL profits, untaxed due to BCCI’s charitable status, contrast with taxed research labs. India's R&D spending is low, prompting calls for balanced investment supporting both scientific research and underprivileged income-building.

Karnataka government signs MoUs with two Korean firms

YourStory

YourStory · 1y ago

Karnataka government signs MoUs with two Korean firms

The Karnataka government has signed two MoUs worth Rs 1,040 crore with DN Solutions and EMNI Company Limited in Seoul, South Korea. The strategic partnerships will boost manufacturing, research and development, and battery technology sectors in the state. DN Solutions will invest Rs 1,000 crore in establishing machine manufacturing facilities, a research center, and a technical support center. EMNI Co. Ltd will invest Rs 40 crore in battery technology advancements, particularly focusing on the storage, testing, and recycling of LG Energy Solution's battery cells in Karnataka.

Hyundai to invest $28 million in Thailand for EV assembly, batteries

Money Control

Money Control · 1y ago

Hyundai to invest $28 million in Thailand for EV assembly, batteries

Hyundai Motor Company is set to invest $28 million in Thailand to establish an electric vehicle (EV) assembly and battery facility. The move is seen as an attempt for Hyundai to tap into Thailand's growing EV market, which is currently dominated by Chinese carmakers. The facility, located near Bangkok, is expected to start production in 2026 and will utilize Thailand's strong supply chain to source a significant portion of raw materials and parts locally. Thailand accounted for 55% of all EV sales in Southeast Asia during Q1 2022.

EV Push: Hyundai plans ₹700 crore battery plant by ’25

Livemint

Livemint · 1y ago

EV Push: Hyundai plans ₹700 crore battery plant by ’25

Hyundai Motor India is investing ₹700 crore to establish a battery assembly plant in Chennai with an annual capacity of 75,000 battery packs by 2025. The company believes that localization of battery packs will play a crucial role in reducing the prices of electric vehicles (EVs) in the country, addressing concerns around EV affordability. Hyundai aims to achieve a 20-22% EV penetration by 2030, surpassing the government's target of 30%. The carmaker is also planning to introduce a made-in-India EV for the mass-premium market by 2025.

MapmyIndia, Hyundai AutoEver To Form JV To Integrate Maps For South East Asia

Inc42 · 9m ago

MapmyIndia, Hyundai AutoEver To Form JV To Integrate Maps For South East Asia

MapmyIndia has announced a new joint venture with Hyundai AutoEver in Indonesia called PT Terra Link Technologies. MapmyIndia will invest $4 million to acquire a 40% stake in the JV, while Hyundai AutoEver will hold the remaining 60%. Additionally, MapmyIndia's board has approved an investment of $0.5 million in its subsidiary CE International.

Macquarie Asset Management raises $405M for EV fleet solutions platform Vertelo

YourStory

YourStory · 6d ago

Macquarie Asset Management raises $405M for EV fleet solutions platform Vertelo

Macquarie Asset Management raised $405 million to invest in Vertelo, a fleet electrification solutions provider in India. The funding includes $205 million from institutional investors and $200 million from the Green Climate Fund. Vertelo, launched in April 2024, offers fleet electrification solutions like leasing, financing, and energy management. This investment aligns with Macquarie’s strategy in the energy transition domain, as the EV industry in India is rapidly growing with strong government support.

Hyundai India MD Predicts "Strong" EV Market Growth Until 2030

Inc42 · 10m ago

Hyundai India MD Predicts "Strong" EV Market Growth Until 2030

- EV growth in India expected to increase due to increased focus from companies and government support - Indian EV ecosystem still at early stage of electrification - Indian EV startups received 32 deals last year, thanks to government subsidies and increased investments - Ongoing funding winter did not deter Indian EV startups from securing investment deals - The MD of Hyundai Motor India projects a positive outlook for EV growth in the country.

Bosch to boost R&D, local electric two-wheelers components

Livemint

Livemint · 1y ago

Bosch to boost R&D, local electric two-wheelers components

Bosch Ltd, the Indian arm of Germany's Bosch GmbH, plans to increase investments in research and development (R&D) as well as local production of components for electric two-wheelers (e2w). The company aims to capitalize on the growing adoption of green mobility in India. The company's president, Guruprasad Mudlapur, stated that Bosch will also focus on expanding its research efforts in passenger car electrification. He mentioned that the two-wheeler segment, particularly scooters, is expected to witness significant growth in electrification in the coming years.

Battery tech startup Dreamfly Innovations raises Rs 12 crore from Avaana Capital, others

Economic Times

Economic Times · 6m ago

Battery tech startup Dreamfly Innovations raises Rs 12 crore from Avaana Capital, others

Dreamfly Innovations, a battery tech startup, raised Rs 12 crore in a seed funding round led by Avaana Capital, supported by Sunicon Ventures and other investors. The funds will help establish a manufacturing unit, expand its team, and enhance R&D for its battery solutions applicable in drones, aviation, and aerospace. Noteworthy clients include Tata Advanced Systems and L&T. Dreamfly’s solutions improve battery safety and efficiency, aligning with the rising demand for electrification and sustainable technology.

Epsilon to invest Rs 15,350 Cr for EV battery facility in Karnataka

YourStory

YourStory · 6m ago

Epsilon to invest Rs 15,350 Cr for EV battery facility in Karnataka

Epsilon Group plans to invest Rs 15,350 crore in Karnataka to establish a manufacturing and research facility for EV battery materials, focusing on graphite anode and LFP cathode production. Signed at the Invest Karnataka Summit, the initiative aims to bolster India's EV ecosystem, create jobs, and reduce import dependency. The investment includes Rs 9,000 crore for anode and Rs 6,000 crore for cathode manufacturing. This supports India's clean energy transition and strengthens its position as a battery technology hub.

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