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

  • Survey finds driver demand for connected cars is growing
    July 18, 2014
    Research just released by telecommunications company Telefónica suggests that consumers are ready for connected cars. According to the study, there is sufficient global demand for connected car services, with more than 70 per cent of drivers surveyed saying that they are interested in using, or are already using, connected car services. The survey found that around half of consumers now consider connected features, such as inbuilt connectivity and the ability to plug in a smartphone, a key part of their
    Read More
  • Funding to develop non-rare-earth magnet electric motors
    April 18, 2012
    The US Department of Energy (DOE) has awarded US$3 million to UQM Technologies for the development of non-rare-earth magnet electric motors for use in electric and hybrid electric vehicles. The company will cost-share 25 per cent of the $4 million effort under the development programme.
    Read More
  • Digital Light Processing transforms travel information
    July 19, 2012
    David Crawford investigates the potential of new projection technology. Fifty years on from its invention of the microchip, US company Texas Instruments (TI) has compressed the technology into a surface area of just 4.3mm. As such, it forms the heart of a new Pico Digital Light Processing (DLP) system that is set to transform travel information delivery for millions of users on the move - by making it projectable.
    Read More
  • Europe’s heavy trucks ‘no more fuel-efficient than ten years ago’
    December 4, 2015
    A study by the International Council on Clean Transportation (ICCT) claims that trucks in the European Union are no more fuel-efficient than they were a decade ago. The study, which analyses data from the European commercial trucking market, looking at key member states, manufacturers and fuel consumption trend, found that heavy-duty vehicles represent only four per cent of the on-road fleet in the European Union, but are responsible for 30 per cent of on-road CO2 emissions. In contrast, the study cla
    Read More

Highlighted Content