Qnovo said it has received a strategic investment from Hyundai Motor Company and Kia Corporation, as the companies expand cooperation on battery management software for electric mobility applications. Financial terms of the transaction were not disclosed.
Qnovo develops software designed to monitor and manage lithium-ion battery performance through predictive, physics-based algorithms. The company said the investment will support wider deployment of its battery intelligence platform across current and future electric vehicle architectures.
The move comes as global battery demand continues to rise, driven by growth in electric vehicles and stationary energy storage systems. According to the International Energy Agency’s Global EV Outlook 2025, total battery demand across these sectors is projected to exceed 4,000 gigawatt-hours (4 terawatt-hours) by 2030.
“Hyundai Motor and Kia’s investment is a testament to the strategic importance of sophisticated battery intelligence for charging and vehicle experience,” said Nadim Maluf, chief executive of Qnovo.
The companies said the investment follows several years of joint testing and validation. Qnovo stated that its software has been evaluated under real-world operating conditions to meet reliability standards set by global automakers.
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“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.
Hyundai Motor and Kia join existing Qnovo investors including Blue Earth Capital, BorgWarner, Climate Investment, Constellation, RockPort Capital and US Venture Partners.