Looking for Competent EV & Battery Startups
Hyundai Motor, Kia Motors and LG Chem have joined hands to find promising startups specializing in future electric vehicle (EV) and battery technology.
The three companies will hold a startup contest program titled “EV & Battery Challenge” to discover and foster promising Korean and foreign startups. The contest aims to create opportunities to strategically collaborate with global startups and secure core technologies. Startups wishing to participate can apply through an exclusive application website from June 22 to Aug. 28.
Hyundai, Kia and LG Chem intend to make strategic investments in startups with differentiated technologies and business models.
Participants in EV & Battery Challenge will undergo a two-stage evaluation of document review and video conferencing. The finally selected companies will discuss ways to cooperate at a workshop to be held in Silicon Valley in the United States in November.
The contest will be held in a total of seven categories — next-generation battery materials to boost EV mileage and safety; battery efficiency, control and maintenance to increase ease of use; reuse and recycling technologies for used batteries to prune battery cost; process technologies for battery productivity improvement and quality control; electric vehicle driving parts; electric vehicle charging and energy management; and personalization services for electric vehicles.