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

  • Kapsch CarrierCom joins EU rail innovation initiative
    December 15, 2015
    Austrian railway telecommunication specialist Kapsch CarrierCom has joined the European rail joint technology initiative SHIFT²RAIL, which focuses on research and innovation to accelerate the development of new technologies, products and solutions for railways. Kapsch will contribute its expertise to SHIFT²RAIL’s Innovation Program 2 (IP2) for advanced traffic management and control systems and will carry out the analysis, specification and implementation of a prototype for an emergency call application
    Read More
  • CCAM innovation at ITS World Congress 2021
    September 27, 2021
    We live in an era of increasingly cooperative, connected and automated mobility (CCAM) but there’s still a huge way to go - visitors to ITS World Congress in Hamburg will be able to see projects, innovations and real-life solutions showcased in the city
    Read More
  • SolaRoad performs better than expected
    May 8, 2015
    The first six months of the pilot phase of SolaRoad, the first road in the world to generate solar power, have produced an energy yield beyond expectations, according to its Dutch developer, TNO. The cycle road, installed in Krommenie in the Netherlands, has already generated over 3,000 kWh. "We did not expect a yield as high as this so quickly,” says Sten de Wit, spokesman for SolaRoad. “This can provide a single-person household with electricity for a year, or power an electric scooter to drive of
    Read More
  • Plan to create UK’s biggest pay-as-you-go EV charging network
    June 22, 2012
    Elektromotive, a leading provider of electric vehicle (EV) charge points in Europe, is to create the UK’s largest pay-as-you-go, ‘open source’ network of public access charging stations for EVs, based upon the development of its proven pay-by-phone technology. The initiative comes as the result of a new joint venture with Charge your Car (North). The new company – Charge Your Car Limited – will expand the existing Charge your Car (North) network located predominantly across North east England, and incorpora
    Read More

Highlighted Content