Hyundai Oilbank to Expand Electric Vehicle Fast Charging Stations to 200 Units

Increase the Number of Electric Vehicle Charging Stations from 20 to 200 by 2023

[Asia Economy Reporter Hwang Yoon-joo] Hyundai Oilbank plans to expand the number of electric vehicle charging stations currently operated at 20 directly managed gas stations to 200 by 2023.

On the 7th, Hyundai Oilbank signed a partnership with ChargeIn, an electric vehicle charger manufacturer, to install chargers with a capacity of 100kW or higher at gas stations in urban areas.

In addition to gas stations, to capture the growing electric cargo vehicle market, dedicated charging stations will be installed at logistics centers of distribution companies. They also plan to enter drive-thru stores with good accessibility and large convenience stores, securing a nationwide electric charging station network.

Customer convenience will be enhanced through various pricing plans. For cargo truck and taxi drivers, a pricing plan allowing cheaper charging during late-night hours will be applied, and for commuting customers, a plan enabling fast charging without waiting time will be implemented.

In the long term, Hyundai Oilbank plans to launch a membership service in partnership with electric vehicle manufacturers, offering services such as premium car washes, shared parking, vehicle rentals, and discounts on light maintenance.

According to the future automobile industry development strategy announced by the government, the number of electric vehicles, which was 90,000 last year, is expected to increase to 3 million by 2030. On the other hand, the speed of charger deployment is relatively slow; the ratio of electric vehicles per charger, which was only 3.91 last year, is expected to rise to 11.1 in 2023 and 14.8 in 2025.

Han Hwan-gyu, head of sales at Hyundai Oilbank, said, "Although customers prefer fast chargers of 50kW or higher, they are expected to remain at about 20% of all chargers even in 2025," adding, "We plan to attract the rapidly increasing electric vehicle customers to gas stations and further enhance synergy with existing platform businesses such as premium car washes."

This content was produced with the assistance of AI translation services.