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Automotive and battery giants launch search for the industry’s best start-ups

Wed, 06/24/2020 - 10:42 -- paul Crompton

Automotive OEMs Hyundai, Kia and lithium-ion battery giant LG Chem have sponsored a global competition to identify promising start-ups in the e-mobility industry. 

Start-ups developing technologies and business models for EVs and batteries can apply to the ‘EV & Battery Challenge’ until 28 August via a website set up especially for the competition. 

Up to 10 winning start-ups will have the opportunity to work with Hyundai, Kia, and LG Chem to develop proof-of-concept projects while leveraging the sponsors’ technical expertise, resources and laboratories. 

The seven categories are: 

  1. Next-generation battery materials to increase mileage and safety 
  2. Recycling of battery materials
  3. Control systems to increase battery efficiency
  4. Process technology to increase productivity and quality control
  5. EV drive units
  6. Personalisation services for electric cars
  7. BEV’s charging and energy management

Among the credentials the judges are looking for are: a validated concept and a working prototype; should clearly differentiate from existing solutions and provide plans for global scale; include a business model based on credible commercial and economic assumptions.

Submitted documents will be examined in a first round with the most promising candidates interviewed personally via video conference in October.

The final selection committee is to meet in November at a workshop at the Hyundai Motor Group’s ‘Open Innovation Hub’ in Silicon Valley, California, US. 

After that, Hyundai, Kia and LG Chem will verify the technologies and review them to see if direct financial investment is possible.

New Energy Nexus, the international start-up support organisation, will manage and facilitate the competition.

Interested parties can view more details HERE

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