Have an electric car start-up idea? Kia and LG Chem might just invest with you

Arif · Jun 24, 2020 09:28 AM

Have an electric car start-up idea? Kia and LG Chem might just invest with you 01

Hyundai Motor Company, Kia Motors Corporation, and LG Chem are jointly sponsoring the “EV & Battery Challenge” (EVBC), a global competition to identify up to 10 EV and battery start-ups for potential investment and collaboration. New Energy Nexus, the international start-up support organization, will manage and facilitate the competition.

Have an electric car start-up idea? Kia and LG Chem might just invest with you 02

Hyundai and Kia have gained prominence in the global market with a comprehensive portfolio of EVs. Hyundai Motor Group is planning to deploy 44 eco-friendly models by the year 2025, including 23 EVs.

Have an electric car start-up idea? Kia and LG Chem might just invest with you 03

Start-ups that have working prototypes and are building technologies in:

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  • EV charging and fleet management,
  • power electronics and components,
  • personalization services and battery management,
  • systems,
  • materials,
  • recycling
  • manufacturing

are strongly encouraged to participate. They can apply through www.evbatterychallenge.com from June 22 to August 28.

Applicants that pass the first review on business feasibility and technology will go through virtual interviews in October.

Then, the finalists will attend a two-day workshop in November at the Hyundai CRADLE Silicon Valley office, the hub for Hyundai Motor Group’s open innovation in the U.S. There, Hyundai, Kia, and LG Chem will be verifying the innovative technologies of the applicants.

The chosen start-ups will have the opportunity to work hand-in-hand with Hyundai, Kia, and LG Chem, to develop proof-of-concept projects while leveraging the sponsors’ technical expertise, resources and laboratories.

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Arif

Writer

Previously an engineer in an automotive manufacturing company and a highway concessionaire. A part-time research student on biofuels and diesel engines. Obsessed with vehicle electrification and the future of transportation.

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