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Illustration: Aïda Amer/Axios

Hyundai Motor Group and battery heavyweight LG Chem are launching a global competition to find and finance battery and electric vehicle startups.

How it works: The "EV & Battery Challenge" aims to identify up to 10 startups to collaborate with and "develop proof-of-concept projects while leveraging the sponsors’ technical expertise, resources and laboratories."

  • They're targeting startups in areas including electric vehicle charging, power electronics, battery systems and materials, and recycling.
  • The nonprofit group New Energy Nexus, which works with clean energy entrepreneurs, will manage the competition.

Why it matters: Monday's announcement underscores how auto companies making big investments in electric vehicles know they need better tech and outside help to make it pay off in the increasingly competitive space.

Where it stands: Hyundai, which sells cars under its eponymous and Kia brands, and LG Chem did not say how much funding they plan to provide.

  • Hyundai plans to have 23 EVs in its lineup by 2025 and, per Reuters, LG Chem will be among the suppliers for the models.

Go deeper

Polaris to make electric snowmobiles and off-road vehicles

In the future, Polaris will offer electric powertrains across its lineup of snowmobiles and off-road vehicles. (Pictured is a current model, which doesn't represent the future product.) Photo credit: Polaris Inc.

Polaris plans to electrify its popular lineup of off-road vehicles and snowmobiles through a new 10-year technology partnership with Zero Motorcycles.

Why it matters: People who want to enjoy the Great Outdoors don't have to worry about polluting the environment or disturbing the wilderness when they're riding on a nearly-silent, zero-emission machine.

Updated 20 mins ago - World

U.S. threatens to cut aid to Sudan after military takeover

Sudanese Prime Minister Abdallah Hamdok during a 2020 news conference in Khartoum, Sudan. Photo: Mahmoud Hjaj/Anadolu Agency via Getty Images

Sudan's civilian Prime Minister Abdalla Hamdok was put under house arrest and several other ministers were detained Monday in what appears to be a military coup in the country, per local reports.

The latest: The head of the military faction of the Sudanese government, Gen. Abdul Fattah al-Burhan, said in a statement that he is announcing a state of emergency, suspending several parts of the interim constitution and dissolving the civilian government and interim sovereignty council — the highest governing body in the country.

Facebook's pivotal week

Illustration: Aïda Amer/Axios

They're battening down the hatches at Facebook headquarters this week as the company faces a trifecta of tumult: a continuing wave of negative press coverage fueled by document leaks, a critical earnings report Monday and a reported name change looming.

The big picture: All this is unfolding as Mark Zuckerberg tries to transform Facebook from a social network into the prime mover behind a new "metaverse" of VR- and AR-driven remote work and play.