Hyundai Glovis to utilize used EV batteries to generate energy in Shinan County
Hyundai Glovis announced Monday it signed a memorandum of understanding with various companies to utilize used electric vehicle (EV) batteries to generate energy for homes in Shinan County, South Jeolla.
The company said it signed the agreement with Korea Hydro & Nuclear Power, LS Electric, NH International and Shinan County on Nov. 4.
Hyundai Glovis will build a used battery energy storage system (Ubess) that can generate energy from used EV batteries. EV batteries have to be replaced every five to 10 years because they lose driving range and take a longer time to charge. Ubess uses the remaining life of those batteries to generate energy.
The project to build the facility will start next year. It will later supply the generated energy to homes in Shinan County, considering some homes still use electric generators to get power.
Hyundai Glovis said it also plans to develop a hybrid energy plant in the county, which will be able to generate both hydrogen energy and renewable energy from solar and wind power plants.
LS Electric will help develop electricity transmission lines and technology to make transmission effective.
Korea Hydro & Nuclear Power will conduct a feasibility study on a possible ocean water desalination project in the county, aiming to solve water shortage problems.
"We think it is meaningful that this business agreement can contribute to revitalizing the local economy in Shinan County,” said a spokesperson for Hyundai Glovis. “In line with the growth of the used EV batteries market, we plan to actively pursue the discovery of other reuse business models, including Ubess.”
BY LEE TAE-HEE [firstname.lastname@example.org]