Exide Energy Solutions Limited Signs Strategic Partnership with Hyundai Motor Company and Kia Corporation for electric vehicle battery development in India

Exide Energy Solutions Limited (EESL), a wholly owned unlisted subsidiary of Exide Industries Limited, has entered into a non-binding Memorandum of Understanding (MOU) with Hyundai Motor Company and Kia Corporation for strategic co-operation in India’s EV market. According to this MOU, both parties will work together for the development, production, and supply of battery cells for Hyundai Motor's electric vehicles dedicated to the Indian market. The partnership was confirmed in a press release issued by Hyundai Motor Group.