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

  • Finland to help Vietnam develop smart cities
    October 23, 2014
    Speaking at a seminar held in Ho Chi Minh City, Finland's Minister of Economic Affairs Jan Vanpaavuori said that that his country would help Viet Nam achieve ambitious targets for smart and green cities by providing assistance in sustainable urban planning, industrial design, clean technologies and digital services, along with education and training.
    Read More
  • Low-carbon mobility, one village at a time
    July 15, 2024
    Shantha Bloemen of Mobility for Africa, winner of this year's Movmi Empower Women in Shared Mobility Award, talks to Beate Kubitz about creative and practical solutions for transportation in the world’s rural areas – and why investment is still needed
    Read More
  • After two decades of research, ITS is getting into its stride
    June 4, 2015
    Colin Sowman gets the global view on how ITS has shaped the way we travel today and what will shape the way we travel tomorrow. Over the past two decades the scope and spread of intelligent transport systems has grown and diversified to encompass all modes of travel while at the same time integrating and consolidating. Two decades ago the idea of detecting cyclists or pedestrians may have been considered impossible and why would you want to do that anyway? Today cyclists can account for a significant propor
    Read More
  • US favours express buses are for intercity travel
    November 26, 2013
    David Crawford records an upsurge in ground travel. Express buses are powering ahead of air and rail as the US’ most-favoured form of intercity travel and major operators are investing in passenger-attracting and retaining technologies. At the same time ‘kayak’-style price comparison websites are emerging to widen rider choice. Modelled on airline industry search engines that find cheap flight deals by comparing carriers’ offers, these new websites aim to fill the same gap for a ground-travel equivalent
    Read More

Highlighted Content