Hyundai Motor Company (Hyundai Motor) and Kia Corporation (Kia) signed a Memorandum of Understanding (MoU) for strategic cooperation with Exide Energy Solutions Ltd (Exide Energy), a leading Indian battery company, as part of their electric vehicle (EV) expansion plans.
Exide Energy, which has undertaken the work of setting up a lithium battery cell plant at Devanahalli Industrial Area 2nd phase, has intended to double up its production capacity and sought additional 40 acres of land in this connection, said the company in a statement.