Hyundai and Indian Colleges Collaborate on Battery and Automation Technologies.

Chennai: Hyundai Motor Co. and Kia Corp. announced a significant partnership with three prominent Indian engineering colleges to embark on a five-year project focused on developing advanced battery and automation technologies. This pioneering collaboration, known as the Hyundai Center of Excellence, is set to commence next year with a substantial investment of 10 billion won (US$7.1 million) aimed at fostering innovation and technological advancement in the automobile sector.According to Yonhap News Agency, the esteemed Indian institutes involved in this collaboration are the Indian Institute of Technology (IIT) Delhi, IIT Bombay, and IIT Madras. The South Korean automotive giants have also partnered with IIT Delhi's Center for Automotive Research and Tribology, India's sole electric vehicle research center, to support the local government's efforts in establishing a robust EV ecosystem. This industry-academic alliance is part of Hyundai's broader strategy to reinvest in the Indian market, following Hyundai Motor India Ltd.'s landmark initial public offering (IPO) on the National Stock Exchange in Mumbai last October.Hyundai Motor India's IPO was a historic financial event, marking the Hyundai Motor Group's first-ever listing outside South Korea and the largest IPO in Indian stock market history, amassing $3.3 billion. The collaboration aligns with Hyundai's strategic goal to significantly contribute to the Indian government's "Make in India" initiative, aimed at transforming India into a global manufacturing powerhouse.Hyundai Motor's Indian subsidiary currently holds the position of the second-largest car manufacturer in the country, trailing only behind Japan's Maruti Suzuki. Last year, Hyundai produced an impressive 765,000 vehicles in India, underscoring its strong presence and influence in the Indian automotive market.