Hyundai, sibling brand Kia, and battery maker LG Chem are launching a competition for battery-tech startups.
The “EV & Battery Challenge” will select up to 10 battery startups for “potential investment and collaboration,” Hyundai said in a press release Monday.
Those startups will work with Hyundai, Kia, and LG Chem on “proof of concept projects” showcasing their technologies, Hyundai said.
Hyundai has been a longtime partner of LG Chem and has used the cells in many of its products, although many Kia products use SK innovation cells.
Startups will be able to leverage the resources of the automakers and battery maker to develop their technology, while Hyundai, Kia, and LG Chem will get early access to any technologies they may want to commercialize.
The companies are looking for startups working in the following areas: “EV charging and fleet management, power electronics and components, personalization services, and battery management, systems, materials, recycling, and manufacturing,” according to the press release. Startups can apply online from June 22 to August 28.
Applicants must pass a review of business feasibility, followed by virtual interviews in October. Finalists will go on to a two-day workshop at Hyundai’s Silicon Valley tech hub in November.
Hyundai and Kia have already teamed with Croatian tech firm and supercar maker Rimac for development work with power systems and special projects.
Partnerships like this could help Hyundai-Kia and LG Chem keep pace with rivals looking to squeeze greater performance out of EV batteries—and to keep a tighter hold on a battery ecosystem that is being controlled to some degree by separate cell makers.
One South Korean rival, Samsung, has teased that it plans to double battery energy density with solid-state cells. And China’s CATL recently said that it has a million-mile, 16-year battery on offer to automakers—different than the Tesla battery that reportedly meets comparable specs.
EVs are already controversial from a labor standpoint, as they take core powertrain elements that have been assembled and overseen directly by automakers and place them under supplier oversight—which has led to some very different relationships between automakers, unions, and the batteries that go into EVs, depending on the country.
The Miss Universe-Greatest Celebration of Women
-SOFIE ZERUTO The Miss Universe Organization is a global, inclusive of organizations that celebrates all cultures, backgrounds and religions. It creates and provide a safe space for women to share their stories and drive impact personally, professionally, and philanthropically. The women who participate in this…
All Africa Music Awards; Categories and Regions
-MUSIC IN AFRICA All Africa Music Awards (also referred to as AFRIMA) is an annual awards event. The awards event was established by the International Committee AFRIMA, in collaboration with the African Union (AU) to reward and celebrate musical works, talents and creativity around the African continent while promoting…
African Acts And The Grammy Award
-FUMILAYO KANMODI African music is now getting much-deserved recognition, and talented stars have been rewarded for their hard work. One award many covet has always been the Grammy Award, and we have had African acts that have received the award. In our little way of…
Nigeria’s Former Jonathan Tells African Leaders To Put Humanity First
Joke Falaju, Abuja Bags African Heritage awardFormer President Goodluck Jonathan has urged African leaders privilege to hold public offices to become servants of the people, and not turn themselves into the “bosses of the people”.Jonathan stated this while receiving the African Democracy and Peace Icon…
The Risk And Reward Of ChatGPT In Cybersecurity
Juan is an experienced CTO with a demonstrated history of working in the computer and network security industry. He is an information technology professional skilled in SAP and Oracle applications, computer forensics, vulnerabilities research, IPS/IDS and information security. Unless you’ve been on a retreat in…
Explained – History Of Money From Fiat To Crypto
What is money? Money as a concept has been a cornerstone of human civilization and economic development. To start with the latter, money is a method of storing value and worth, and it also functions as a medium of exchange that allows individuals to exchange…
Studies Show That Nigerian Crypto Foreign Investment Is At A Record Low
Foreign direct investment in Nigeria fell by 33% last year due to a severe shortage of dollars, which discouraged crypto companies from expanding into the country. The largest economy in Africa has a foreign investment problem despite exponential growth in crypto adoption. The National Bureau…
Growing The Bitcoin Development Ecosystem In Africa
– Abubakar Nur Khalil | Bitcoin Magazine Bitcoin development in Africa, with a proper regulatory environment, could equally accelerate the continent and the technology. In this piece, we’ll be analyzing the current state of the Bitcoin developer ecosystem in Africa, ways to improve it and…