Hyundai Motor Group on Tuesday said it has tied up with three IITs to establish a collaborative research system in the fields of batteries and electrification entailing an investment of $7 million over five years.
The South Korean group, which has a presence across multiple segments including mobility, has tied up with IIT Delhi, IIT Bombay and IIT Madras.
Hyundai Motor Group plans to invest around $7 million over five years, from 2025 to 2029, to jointly conduct battery and electrification-related research with the IITs.
As part of the collaboration, Hyundai Center of Excellence (CoE), will be set up within IIT Delhi and will operate through sponsorships from Hyundai Motor Group, the group said in a statement.
The primary objective of the Hyundai CoE is to take the lead in driving advancements in batteries and electrification, specifically designed to meet the unique requirements of the Indian market, it added.
“We believe that Hyundai CoE will cultivate a strong network of talented individuals from India’s academic landscape, driving innovation and future growth,” Hyundai Motor Group Head of Research and Development (R&D) Planning & Coordination Center Naksup Sung said.
The Hyundai CoE will not only conduct joint research on academic-industrial cooperation tasks but also facilitate technical and human exchanges between battery and electrification experts from Korea and India, the group said.
These partnerships align with the Group’s efforts to expand its presence in India, it added.
Seoul-headquartered Hyundai Motor Group has a presence across varied sectors including mobility, steel, and construction, as well as logistics, finance, IT, and service.
