Hyundai and Kia invest in battery software specialist Qnovo
Qnovo has secured its next high-profile investor: the Silicon Valley-based software company has raised an undisclosed sum from Hyundai and Kia. The investment is expected to expand collaboration between the companies and accelerate the adoption of Qnovo’s battery software in electromobility and future platforms, according to an accompanying statement.
Qnovo is renowned for its software, which uses AI and machine learning to provide real-time insights into battery performance and operation. The company claims 99% accuracy in detecting potential safety issues. Automakers can use Qnovo’s battery management system to ‘maximise performance and safety in real-time, while providing the precise data needed to underwrite warranties and unlock the actual residual value of the battery throughout its lifecycle.’
For Qnovo CEO Nadim Maluf, the investment from Hyundai Motor Company and Kia highlights the strategic importance of advanced battery intelligence for charging and the driving experience. “We are creating a new standard for how batteries are managed, valued and scaled globally,” Maluf said.
The investment follows years of joint testing between Qnovo and its new investors. “Qnovo’s physics-based predictive algorithms have undergone extensive validation, proving in real-world conditions that intelligent software can meet the stringent reliability standards of global OEMs,” the company states.
“Partnering with Qnovo enables us to integrate the leading battery intelligence into our EV platforms,” said Chang Hwan Kim, executive vice president of Hyundai Motor Company. “Qnovo’s unique approach to battery intelligence aligns with our vision for the future of mobility, where software is an important driver of the customer experience and vehicle longevity.”
Hyundai Motor Company and Kia join a group of prominent backers, including Blue Earth Capital, BorgWarner, Climate Investment, Constellation, RockPort Capital, and US Venture Partners.
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