Leading Battery and Electric Vehicle Companies LG Energy Solution, Hyundai Motor, and Kia Selected 18 Startups as Finalists in the EV and Battery Challenge
LG Energy Solution (spinoff from LG Chem), Hyundai Motor Company, and Kia Motors Corporation selected 18 startups as finalists of EV and Battery Challenge (EVBC), a global startup innovation program to accelerate startups building battery and electric vehicle technologies through strategic partnerships. The finalists will collaborate with the corporates on Proof of Concept and sample testing projects.
The EV and Battery Challenge launched in June 2020, with New Energy Nexus as the program manager and facilitator. 240 startups from 37 countries and regions applied to the program. Startups developing cutting-edge technologies include electric vehicle charging and fleet management, power electronics and components, personalization services and battery management, battery materials, manufacturing, and recycling.
All applications were carefully reviewed by the researchers and open innovation staff at LG Energy Solution, Hyundai Motor, and Kia. 25 startups were short-listed and interviewed. As a result, 18 startups finalists were accepted to attend virtual workshops where they discussed and shaped their collaborations.
The EV and Battery Challenge provides a value exchange where both startups and corporates can benefit. Startups that join the program gain access to industry experts, funds and manufacturing capabilities while corporates get access to deal flow and insight on emerging technologies.
The EV and Battery Challenge is the second iteration of the Battery Challenge by LG Chem in 2019, with Hyundai Motor and Kia as new co-sponsors. Last year, the Battery Challenge received 129 applications from 27 countries. Seven finalists were invited to the LG Chem headquarters in Korea to meet with researchers to pitch their technologies and collaborate on joint development projects. $100,000 in total were awarded to the Top 5 winners of the program.
LG Chem, Hyundai Motor, and Kia launched the EV and Battery Challenge in June 2020. On December 1, 2020, LG Chem officially launched its new wholly-owned subsidiary LG Energy Solution, which consists of the battery business of LG Chem. The spin-off doesn’t impact the operation of the program. The startups continued to collaborate with LG Energy Solution.
LG Energy Solution
LG Energy Solution is one of the world’s largest lithium-ion battery manufacturers with a market-leading position in advanced batteries for grid-scale, residential storage and automotive applications. Our advanced lithium ion battery technology is the product of accumulated experience in the development and production of mobile batteries and large format batteries for automotive and energy storage systems (ESS). LG Energy Solution’s commitment to technology leadership coupled with efficient and high-quality manufacturing processes produces batteries that exhibit the highest levels of safety, performance and reliability. For more information about LG Energy Solution’s ESS Battery, please visit www.lgessbattery.com.
Hyundai Motor Company
Established in 1967, Hyundai Motor Company is present in over 200 countries with more than 120,000 employees dedicated to tackling real-world mobility challenges around the globe.
Based on the brand vision ‘Progress for Humanity,’ Hyundai Motor is accelerating its transformation into a Smart Mobility Solution Provider.
The company invests in advanced technologies such as robotics and Urban Air Mobility (UAM) to bring about revolutionary mobility solutions, while pursuing open innovation to introduce future mobility services.
In pursuit of sustainable future for the world, Hyundai will continue its efforts to introduce zero emission vehicles equipped with industry-leading hydrogen fuel cell and EV technologies.
More information about Hyundai Motor and its products can be found at:
Disclaimer: Hyundai Motor Company believes the information contained herein to be accurate at the time of release. However, the company may upload new or updated information if required and assumes that it is not liable for the accuracy of any information interpreted and used by the reader.
Kia is a global mobility brand with a vision to create sustainable mobility solutions for consumers, communities, and societies around the world. Founded in 1944, Kia has been providing mobility solutions for more than 75 years. With 52,000 employees worldwide, a presence in more than 190 markets, and manufacturing facilities in six countries, the company today sells around three million vehicles a year. Kia is spearheading the popularization of electrified and battery electric vehicles and developing a growing range of mobility services, encouraging millions of people around the world to explore the best ways of getting around. The company’s brand slogan – ‘Movement that inspires’ – reflects Kia’s commitment to inspire consumers through its products and services.
For more information, visit the Kia Global Media Center at www.kianewscenter.com
New Energy Nexus
New Energy Nexus is a non-profit international organization that strives towards an abundant world with a 100% clean energy economy for 100% of the population in the shortest time possible. To achieve this goal, we support diverse clean energy entrepreneurs with funds, accelerators, and networks. We started in California in 2004 and now operate programs in New York, China, India, Southeast Asia and East Africa. For more information, please visit newenergynexus.com.
Yi Ke, Program Manager, Energy Storage and Mobility