CHENNAI: 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 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.
Hyundai Center of Excellence (CoE), will be set up within IIT Delhi and would 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.
These partnerships align with the Group’s efforts to expand its presence in India, it added.