Enter 2021.02.18 12:00
On the 18th, Hyundai Motor Company at Hyundai Motor and Kia Namyang Research Center in Hwaseong, Gyeonggi Province, Hyundai Glovis (086280), LG Energy Solutions and KST Mobility announced that they have signed an MOU for electric taxi battery rental and post-use battery use demonstration projects.
In addition, the battery circulation model is also demonstrated. This is a method of using the used battery, which is secured when replacing the battery mounted in an electric taxi with a new battery, into an energy storage device (ESS) and used for rapid charging of electric vehicles. You can save money by charging the ESS during the late night when electricity is cheap, and charging the electric vehicle by using the ESS during the daytime when electricity is expensive.
While overseeing the demonstration business, Hyundai Motors sells the electric car’Kona Electric’ to the taxi platform operator KST Mobility. It is responsible for battery warranty as well as selling replacement batteries.
Hyundai Glovis operates a battery rental service and performs battery recovery and logistics after use. Recently, Hyundai Glovis is increasing its business capabilities by acquiring a patent for an exclusive container that can efficiently transport large quantities of batteries after using electric vehicles.
LG Energy Solution purchases batteries after use and analyzes the safety and residual value. In addition, an ESS is manufactured from a used battery and mounted on a rapid charger for electric vehicles, and the charger is sold to KST Mobility, a vehicle operator.
KST Mobility will operate an electric vehicle-based taxi franchise service and utilize ESS rapid chargers for taxi charging. 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 rental service is commercialized, the spread of electric vehicles is expected to further expand. This is because consumers can purchase electric vehicles at lower cost than before. There is an advantage of lowering the initial purchase cost because you only need to pay the battery rental fee after purchasing the vehicle at a price excluding the battery cost.
In addition, this project will demonstrate the safety of the battery after using the electric vehicle and prepare a plan for evaluating the residual value, so the effect of activating the reuse of electric vehicle batteries is expected. It is also possible to explore related new businesses through sharing EV battery data.
A Hyundai Motor Company official said, “Even in countries that do not have subsidies for electric vehicles in the future, it is expected to expand into a business model that can reduce the price gap with internal combustion vehicles.”
The MOU signing ceremony was attended by government and industry officials, including Prime Minister Jeong Se-gyun, Minister of Trade, Industry and Energy Sung Yun-mo, Hyundai Motor Group Chairman Eui-sun Eui, Hyundai Motor Company President Gong Young-woon, Kim Jung-hoon, Hyundai Glovis President, Kim Jong-hyun, LG Energy Solutions President, and KST Mobility CEO Lee Haeng-ryul.