Hyundai Motor runs pilot project using old EV batteries
Hyundai Motor will run a pilot project that reuses discarded electric vehicle (EV) batteries as energy storage systems (ESS) at solar power plants, the carmaker said Sunday.
It will operate a two-megawatt-hour (MWh) ESS using old EV batteries to save energy generated by a solar power plant inside Hyundai Motor’s Ulsan factory, which was built in 2018. The ESS will download energy to an external power grid, the carmaker said.
According to the carmaker, a two-MWh ESS can supply enough electricity for five four-member families to live on for more than a month.
Until now, used batteries for EVs had to be surrendered to local governments, which decided whether to dispose of, recycle or reuse them. That regulation was recently lifted for the carmaker in the face of rapid growth in demand for EVs, leading to more discarded batteries.
Putting used EV batteries to use in an ESS can be a solution to the volatility of energy supplies from the sun, wind power and geothermal heat.
Hyundai Motor has been working with global energy companies since 2018 to find better ways to use old batteries from EVs.
In 2018, it partnered with Finland-based energy company Wartsila to develop an ESS based on EV batteries with a goal of commercializing the system in three years. Last year, Hyundai Motor partnered with Korea Hydro & Nuclear Power, Power Logics, OCI and Hanwha Q Cell.
“The latest project will allow Hyundai Motor Group to accumulate data in the business field,” said Oh Jae-hyuk, head of Hyundai Motor’s new energy business.
“Through the EV battery-based ESS business, the environmental friendliness of EVs will be enhanced."
The EV battery reuse market is expected to surpass $1.5 billion by 2026, according to Global Market Insights, from $250 million in 2019.
BY JIN EUN-SOO [email@example.com]