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Magna e-Car & Hyundai Team on Batteries

April 7, 2012 in Electric Drive, EVs by Rich Piellisch  |  No Comments

Korea’s Hyundai Heavy Industries and Ford supplier Magna E-Car have agreed to form a joint venture named Mahy E-Cell to “co-develop and grow a successful battery cell and battery pack business.”

Magna E-Car CFO John Simonetti and Hyundai Green Energy COO Lee Choong-dong

The firms say they 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% by Magna E-Car and 40% by Hyundai.

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