Hyundai Heavy & Magna E-Car Systems to develop lithium-ion battery

Hyundai Heavy Industries (HHI), and Magna E-Car Systems (Magna E-Car), a supplier of components and systems for hybrid and electric vehicles, have announced a joint venture named Mahy E-Cell as a platform to co-develop and grow a successful battery cell and battery pack business. Under the agreement, HHI and Magna E-Car will jointly conduct engineering, design, development and testing activities with the goal of preliminary validation of battery cell and battery pack technologies for electric and hybrid ele
April 19, 2012 Read time: 2 mins
1684 Hyundai Heavy Industries (HHI), and 5026 Magna E-Car Systems (Magna E-Car), a supplier of components and systems for hybrid and electric vehicles, have announced a joint venture named Mahy E-Cell as a platform to co-develop and grow a successful battery cell and battery pack business. Under the agreement, HHI and Magna E-Car will jointly conduct engineering, design, development and testing activities with the goal of preliminary validation of battery cell and battery pack technologies for electric and hybrid electric vehicle applications. The joint venture will be owned 60 per cent by Magna E-Car and 40 per cent by HHI.

HHI expects the establishment of MAHY E-CELL to serve as a stepping stone to enter the Energy Storage System business and plans to link its solar and wind power business with ESS as a new growth engine. According to Lee Choong-dong, COO of HHI's Green Energy Division, "The establishment of Mahy E-Cell is a reflection of Hyundai Heavy's determination to become a leading eco-friendly integrated energy company by advancing into Europe and North America's electric car batteries market and ESS business. We see solar energy, wind power, and energy storage systems as integral to our future growth."

For more information on companies in this article

Related Content

  • FTA, BMW support UK government funding for green cars
    April 30, 2014
    The UK government has announced plans to invest US$840 million ultra-low emission vehicle industry. It is hoped that this will help drivers both afford and feel confident about using electric cars. Announcing the funding during a visit to the Transport Research Laboratory, Nick Clegg, Deputy Prime Minister said: “Owning an electric car is no longer a dream or an inconvenience. Manufacturers are turning to this new technology to help motorists make their everyday journeys green and clean.”
    Read More
  • Bringing V2I and V2V communications to workzone safety
    January 26, 2012
    Imran Hayee of the University of Minnesota Duluth's Department of Electrical and Computer Engineering talks about efforts to bring V2I and V2V communications into work zones. With USDOT backing and under the auspices of the ITS Joint Program Office Connected Vehicle Research (formerly IntelliDrive) research programme, M. Imran Hayee of the University of Minnesota Duluth's Department of Electrical and Computer Engineering along with team of his students, have been conducting research into the application of
    Read More
  • UK government announces battery research
    December 3, 2012
    The UK Government has announced an investment of £9 million (US$14.4 million) with a further £4 million (US$6.3 million) from industry into a new Energy Storage R&D Centre which will work to accelerate the development of the next generation of batteries for electric and hybrid vehicles. The Department for Business, Innovation and Skills hopes that the new centre, which will be based at the University of Warwick, will help the UK to capitalise on the growing electric and hybrid vehicle battery market, which
    Read More
  • Why integrated traffic management needs a cohesive approach
    April 10, 2012
    Traffic control is increasingly being viewed as one essential element of a wider ‘system of systems’ – the smart city. Jason Barnes, Jon Masters and David Crawford report on latest ideas and efforts for making cities ‘smarter’ Virtually every element of the fabric and utilitarian operations that make urban areas tick can now be found somewhere in the mix that is the ‘smart city’ agenda. Ideas have expanded and projects pursued in different directions as the rhetoric on making cities ‘smarter’ has grown. App
    Read More

Highlighted Content