Hyundai to Source Local EV Batteries from Exide Partnership

During its investor call on May 6, 2025, Exide Industries announced that it is in advanced talks with two leading two-wheeler manufacturers and one three-wheeler maker to supply batteries for electric vehicles.

The company also shared progress on its strategic collaboration with Hyundai Motor India. Product development has already begun under the partnership, which stems from a binding term sheet signed in December 2024 between Hyundai and Exide Energy Solutions, Exide’s battery cell manufacturing subsidiary. Hyundai is set to become the first Indian automaker to use locally produced battery cells in its EVs—a move aimed at increasing localisation and reducing costs in its electric mobility efforts.

Currently, Exide supplies auxiliary batteries to electric two-wheelers (E2Ws) and electric four-wheelers (E4Ws) through partnerships with various automotive OEMs. Expanding beyond this segment, the company is developing new products for commercial vehicles, e-rickshaws, and inverters.

In addition, Exide is preparing to launch integrated rooftop solar energy solutions, expected to become a key revenue stream. With the Indian government targeting 500 GW of renewable energy by 2030—including 40 GW from rooftop solar by 2026—Exide anticipates strong growth driven by policy tailwinds.

News by Rahul Yelligetti.