Borrow a battery and return it… 47 million won Kona EV 20 million won

Hyundai Motor Company is working with the government and logistics, battery, and mobility companies to launch an electric vehicle battery rental (lease) demonstration project. By borrowing and returning electric vehicle batteries, the initial burden on electric vehicle buyers is expected to be halved.

At the Namyang Technology Research Center in Hwaseong-si, Gyeonggi-do on the 18th, Hyundai Motor Company was attended by the Ministry of Trade, Industry and Energy, Hyundai Glovis, LG Energy Solutions, KST Mobility and Electric Taxi battery rentals, and after-use battery utilization demonstration projects. A business agreement (MOU) was signed.

KST Mobility, which operates Macaron Taxi, sells battery ownership back to Hyundai Glovis immediately after buying an electric car from Hyundai Motor Company. It means buying an electric car at a price without the battery price. Hyundai Glovis lends the battery to KST Mobility again and returns it after the rental period. It is a structure that LG Energy Solutions buys, manufactures it as an energy storage device (ESS), and supplies it to KST Mobility to use for electric taxi charging.

Prior to the signing ceremony, the government held a meeting to review and coordinate state affairs presided over by Prime Minister Chung, and set the goal of supplying non-polluting vehicles, such as electric vehicles, to 10% of total sales this year. Public institutions decided to purchase and lease all new vehicles this year as pollution-free vehicles. Through this, the goal is to increase the cumulative supply of pollution-free vehicles to 300,000 units within this year.

Prime Minister Jeong Se-gyun is plugging a high-speed charger into Ioniq 5, which first applied an electric vehicle platform (E-GMP), at Hyundai Motor’s Namyang Technology Research Center in Hwaseong, Gyeonggi-do on the 18th. The Ioniq 5 can be charged to 80% in 18 minutes using a super fast charger. Hyundai Motor Company will officially unveil the IONIC 5 on the 23rd. Hwaseong = Reporter Kim Youngwoo [email protected]

Hyundai Motors accelerates the popularization of electric vehicles with battery rental
If rental, expand electric vehicles, create new business, reduce environmental pollution, ‘1 stone 3 trillion’

Hyundai Motor’s compact sports utility vehicle (SUV) Kona EV (electric vehicle) basic model price is about 47 million won. It is 3 million won more expensive than the highest grade price of the Granger, a semi-large sedan (about 44 million won). Even if they receive 12 million won in subsidies from the government (8 million won) and local governments (4 million won in Seoul), the amount is 35 million won.

In the future, it is expected that this vehicle can be bought for around 20 million won. It is through borrowing and returning batteries that amount to 30-40% of the price of electric vehicles. If you add subsidies, you will buy an electric car at half the price. There is a prospect that the popularization of electric vehicles will accelerate.

Borrowing and returning electric vehicle batteries

Electric vehicle related manufacturing, logistics, battery and mobility platform companies such as Hyundai Motor Company, Hyundai Glovis, LG Energy Solution, and KST Mobility joined hands on the 18th to advance the era of’half-price electric vehicles’. The final goal is to expand the supply of electric vehicles. These companies also announced plans to build an energy storage system (ESS) charging system with batteries after use.

Prime Minister Jeong Sye-gyun also attended the MOU ceremony held at Hyundai Motor’s Namyang Technology Research Center in Hwaseong-si, Gyeonggi-do. Prime Minister Jung emphasized, “The battery rental business has an effect of 1 to 3 trillions of expanding the supply of electric vehicles, creating new businesses, and reducing environmental pollution.”

The battery rental business will start next month for 20 Kona electric taxis. KST Mobility buys an electric taxi from Hyundai Motor Company, then sells ownership of the battery to Hyundai Glovis and borrows it again. In fact, you can buy an electric car at a price without the battery price, pay a monthly rental fee, and return the battery after the rental period is over.

After use, the battery is purchased by LG Energy Solutions and developed as an ESS charger. It will be sold to KST Mobility again. KST Mobility can reduce costs by charging ESS at night when electricity is cheap, and charging electric vehicles with ESS during the day when electricity is expensive.

Chairman Eui-sun Eui, Exient Driving

Prior to the MOU signing ceremony, Prime Minister Chung held a state affairs inspection and coordination meeting at the Namyang Institute of Technology, and discussed ways to supply and innovate pollution-free vehicles this year. This is the first time that the Prime Minister’s meeting to examine state issues has been held outside the government office. Prime Minister Jung wrote in the Hyundai Motor Company guestbook,’I support Hyundai Motor, which leads the car in the future’.

After the MOU signing ceremony, Prime Minister Chung watched Hyundai Motor’s electric vehicle platform (E-GMP). In addition, together with Hyundai Motor Group Chairman Eui-sun Eui-sun, they tested the Ioniq 5, which applied E-GMP for the first time. The two rode side by side in the rear seats and went around the driving range. Hyundai Motor Company plans to officially unveil the Ioniq 5 on the 23rd and release it in April.

Prime Minister Chung said about the Ioniq 5, “a new car with an electric vehicle platform for the first time in Korea to break away from the existing internal combustion locomotive-based method. We look forward to becoming the protagonist of the wind of innovation in the global market.”

Afterwards, Chairman Chung also drove with Prime Minister Jeong in the passenger seat of the Exient hydrogen electric truck. After the test drive was over, Prime Minister Jeong reportedly said, “It was much better to ride an electric car (the ride comfort)” and “It seems that the era of electric cars will come soon”. It is known that Chairman Chung told Prime Minister Chung with the intention that “Hyundai Motor Group will make more efforts to develop electric and hydrogen vehicles.”

Prior to the test drive, Prime Minister Chung held a luncheon with Chairman Chung and President Man-gi Chung of the Korea Automobile Industry Association to discuss industry issues. It is reported that Chairman Chung explained the management situation of Ssangyong Motor and suggested government support.

Reporter Kim Il-gyu/Lee Ji-hoon [email protected]