Hyundai, LG Chem launch global contest to scout for EV, battery startups

FILE PHOTO - The logo of Hyundai Motor is seen on the steering wheel of a Sonata sedan car during its unveiling ceremony in Seoul, South Korea, March 8, 2017. REUTERS/Kim Hong-Ji

South Korea’s Hyundai Motor Group and battery maker LG Chem Ltd on Monday launched a global contest to identify up to 10 electric vehicle and battery startups for potential investment and development of environment-friendly automobiles.

The companies said they aim to select startups with technological capabilities to help the development of future non-polluting cars through the competition, called ‘EV and Battery Challenge’.

Automakers world over are making massive investments in zero-emission and self-driving technology as they look to move away from traditional internal combustion engines that produce carbon emissions to tackle global warming.

Hyundai Motor Group, which includes Hyundai Motor Co and sister company Kia Motors, has earlier said it plans to deploy 44 eco-friendly automobiles by 2025, including 23 electric vehicles.

Earlier this year, LG Chem was chosen as one of the battery suppliers for Hyundai Motor Group’s upcoming new electric vehicles.

Applications for the competition are open through Aug. 28.

“Start-ups that have working prototypes and are building technologies in EV charging and fleet management, power electronics and components…are strongly encouraged to participate,” the companies said.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.