SK On working with K Car on EV battery certification

SK On CEO Jee Dong-seob

SK On will certify the residual value of electric vehicle (EV) batteries under an agreement with K Car, a Korean site for used car trading, in an effort to build a presence in the battery-as-a-service (Baas) market.

Baas involves battery leasing and swapping and energy storage systems (ESS). Being able to evaluate the remaining value of used batteries is considered a key step in succeeding in the market.

SK On, a wholly-owned EV battery subsidiary of SK Innovation, said Thursday it will certify the residual life and value of batteries in used EVs traded on K Car.

Used EV trading volume has been low relative to internal combustion engine car trading as there is no credible system for certifying the value of a battery.

"By providing a concrete standard for evaluating the value of a battery, consumers will be able to trust and purchase used EVs on K Car," SK On said in a release Thursday.

SK On has been developing a battery evaluation system since last year. With its "Battery as a Service Artificial Intelligence" system, SK On has been working with SK Rent-a-Car to evaluate EV batteries in the rental car fleet.

"By evaluating EV batteries in cars that run on actual roads, SK On was able to elevate the preciseness of the service," the company said.

"Evaluating residual value of batteries is critical in Baas. It allows us to decided on the price of a used EV, pick out batteries that are disqualified for EVs to use them in ESS units and also identify those that need to be discarded."

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]