APD | South Korea’s Hyundai Motor to engage in energy storage system business

By APD writer Alice

South Korea’s Hyundai Motor Co. said on September 27 that it will partner with a state-run renewable energy developer to recycle its used car batteries into energy storage systems.

In a pilot project that will run until 2021, Hyundai Motor and Korea Hydro & Nuclear Power Co. (KHNP) will operate an energy storage project in which KHNP generates 10 megawatt hours of energy using Hyundai's second-hand car batteries, the company said in a statement.

"As demand for battery-powered electric vehicles is on the rise, the number of used car batteries is set to rise over time. Turning used batteries into an energy storage system will be a useful way of recycling them," a company spokesman said.

Hyundai and KHNP aim to supply an energy storage system that can create up to 3 gigawatt hours of energy using solar power, wind power or other renewable energy sources and store it in the system composed of used car batteries by 2030, it said.

(ASIA PACIFIC DAILY)