Hyundai Motor Co. and Kia Corp. have entered into a memorandum of understanding (MOU) with the prestigious Indian Institutes of Technology (IIT) to establish the Hyundai Center of Excellence, a collaborative effort that will focus on research in batteries, electrification, software, and hydrogen fuel cells. This partnership involves IIT Delhi, IIT Bombay, and IIT Madras, aiming to invest approximately 10 billion won over the next five years, starting in 2025. The companies plan to expand their collaboration to include areas such as software and hydrogen fuel cells, in addition to their focus on electric vehicles. The initiative also includes close cooperation with India's electric vehicle research center at IIT Delhi, known as CART, to contribute to building a robust EV ecosystem in India in alignment with the country's electric vehicle deployment policy. This collaboration signifies Hyundai Motor Group's debut on India's stock market through its Indian unit, marking a significant milestone for the company. The establishment of the Hyundai Innovation Center is a unique industry-academia partnership model tailored for the Indian market, leveraging Centers of Excellence (CoE) within IITs supported by corporate and alumni sponsorships. By leveraging the expertise and resources of these renowned technology institutions, Hyundai and Kia aim to drive innovation and technological progress in India's automotive sector. During the listing ceremony of Hyundai's Indian unit in Mumbai, Hyundai Motor Group Chairman Chung Euisun expressed confidence in India's potential, emphasizing the country's importance as a key market for the future.