[종합] ‘Battery rental/recycling after use’ is running with governments and companies for an eco-friendly ecosystem

At the meeting on the 18th, a cooperation project between the government and industry for the distribution of eco-friendly cars was also materialized. Completed vehicle companies (Hyundai Motors), battery manufacturers (LG Energy Solutions), logistics companies (Hyundai Glovis), taxi platform operators (KST Mobility), and the Ministry of Trade, Industry and Energy decided to demonstrate the electric vehicle battery rental (lease) business.

Hyundai Motor Company announced that it has signed a business agreement (MOU) with these companies and the government at the Hyundai Motor Company and Kia R&D Center in Hwaseong-si, Gyeonggi-do, for electric taxi battery rental and’after-use battery’ demonstration projects. The signing ceremony was attended by Prime Minister Jeong Sye-gyun, Industry Minister Sung Yun-mo, and Hyundai Motor Group Chairman Eui-sun Eui.

According to the MOU, KST Mobility purchases an electric vehicle’Kona Electric’ equipped with an LG Energy Solution battery from Hyundai Motor Company and immediately sells the ownership of the battery to Hyundai Glovis, a leasing operator.

From the standpoint of KST Mobility, the cost of batteries, which accounts for a significant portion of the electric vehicle price, decreases, reducing the initial cost burden for electric vehicle purchases. Instead, KST Mobility will pay monthly battery rental fees to Hyundai Glovis. Hyundai Motor Company is responsible for battery warranty and sales of replacement batteries, and Hyundai Glovis is responsible for recovering the batteries after use.

After that, LG Energy Solutions purchases batteries after use and analyzes the safety and residual value. In addition, the used battery is manufactured as an energy storage device (ESS), mounted on an electric vehicle rapid charger, and sold to the vehicle operator KST Mobility.

KST Mobility can save money by charging the ESS during the late night time when electricity is cheap, and charging the electric vehicle by using the ESS during the daytime when electricity is expensive. Driving and battery data collected through electric taxi operation is provided to companies participating in the MOU.

The Ministry of Industry is planning to actively support the project so that the project can be promoted smoothly in consultation with relevant ministries, and operate a working group to check the progress and pending issues on a quarterly basis.

This demonstration is a project undertaken by the government’s regulatory sandbox approval. The Ministry of Industry held the ‘4th Industrial Convergence Regulation Special Case Deliberation Committee’ on October 19 last year, and deliberated and decided on agenda items such as’battery utilization business after using electric vehicles’.

When the battery lease is commercialized, general customers can purchase electric vehicles at lower cost than before. This is expected to lead to an increase in the spread of electric vehicles.

In addition, this project will demonstrate the safety of the battery after use and prepare a plan for evaluating the residual value, so it is expected that the re-use of electric vehicle batteries will be activated. It is also possible to explore related new businesses through the sharing of electric vehicle battery data.

An official from Hyundai Motors said, “Through this demonstration, we hope that the electric vehicle ecosystem will be established early,” and said, “In the future, even in countries without subsidies for electric vehicles, it is expected to spread as a business model that can reduce the price gap with internal combustion vehicles.