Used Electric Vehicle Batteries Repurposed for ESS... Glovis, Hansuwon, and LS Agreement

From the left, Kim Hoseok, CEO of NH International; Kim Junghoon, President of Hyundai Glovis; Park Wuryang, Mayor of Sinan County; Hwang Juho, President of Korea Hydro & Nuclear Power; Kim Jongwoo, President of LS Electric; and Lee Sunyong, President of Mokpo MBC, are posing for a commemorative photo after signing the agreement on the 4th.

[Asia Economy Reporter Choi Dae-yeol] Hyundai Glovis announced on the 7th that it will collaborate with Korea Hydro & Nuclear Power, Sinan County Office, LS Electric, and others to establish an energy storage system (ESS) using electric vehicle batteries after use.

On the 4th, Hyundai Glovis President Kim Jeong-hoon, KHNP President Hwang Ju-ho, Sinan County Governor Park Woo-ryang, and LS Electric President Kim Jong-woo signed a memorandum of understanding for the "Development of Renewable Energy Power Grid Models and Complexes to Achieve Carbon Neutrality and Improve Power Grid Utilization Efficiency." According to this agreement, they will join forces to convert internal combustion power plants in the island areas of Sinan County into renewable hybrid energy facilities. The demonstration project will be concretized starting next year.

As the adoption of electric vehicles increases, the recycling method of used batteries has also become important. Typically, even after the electric vehicle’s lifespan ends, the main component?the battery?can often be sufficiently reused for other purposes. One of the common applications is in the ESS field. While renewable energy has the advantage of being environmentally friendly, its output can fluctuate significantly depending on external factors such as weather, so auxiliary means like ESS must support it.

According to the agreement, as the utilization of renewable energy increases, the company expects to contribute to efficiently supplying environmentally friendly electricity to various parts of the island areas. Some island regions in Sinan County have been self-supplying electricity by operating internal combustion engine power plants.

Hyundai Glovis plans to establish a renewable energy utilization base through this cooperation and aims to become a company with a resource circulation structure that recovers and reuses electric vehicle batteries after use. The company has been preparing for the used battery market, including filing a patent last year for electric vehicle battery transport containers. The company stated, "In line with the growth of the used electric vehicle battery market, we will discover various reuse business models, including energy storage systems (ESS)."

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