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

Sep 25, 2020 - Economy & Business

Eyeing the end of gas-powered cars

Illustration: Eniola Odetunde/Axios

Gasoline-powered cars may be going the way of the woolly mammoth, even if it will take decades to replace them and seems hard to fathom today.

The big picture: Internal combustion engines (ICEs) have powered automobiles for more than 100 years. But the shift to electric vehicles, slow to materialize at first, is now accelerating due to tightening government policies, falling costs and a societal reckoning about climate change.

Sep 25, 2020 - Podcasts

Substack and the future of media

Traditional media models, and even some of the digital ones, are either under pressure or outright broken. Some journalists have responded by going out on their own, leveraging a new group of startups that help them self-publish and monetize their work.

Axios Re:Cap digs in with Chris Best, CEO of Substack, which has more than 250,000 paying subscribers on its writer network.

Texas city declares disaster after brain-eating amoeba found in water supply

Characteristics associated with a case of amebic meningoencephalitis due to Naegleria fowleri parasites. Photo: Smith Collection/Gado/Getty Images

Texas authorities have issued a warning amid concerns that the water supply in the southeast of the state may contain the brain-eating amoeba naegleria fowleri following the death of a 6-year-old boy.

Details: The Texas Commission on Environmental Quality issued a "do not use" water alert Friday for eight cities, along with the Clemens and Wayne Scott Texas Department of Criminal Justice corrections centers and the Dow Chemical plant in Freeport. This was later lifted for all places but one, Lake Jackson, which issued a disaster declaration Saturday.