"Let's Change Electricity Production and Consumption Patterns" The Hidden Meaning Behind Hyundai's 'Package' Unveiled in the US

Hyundai Home Offers Solar Cell, ESS, Charger + Installation and Consulting Service Package
US Market First to Provide Comprehensive Solutions for Renewable Energy Production and Consumption

Charging an electric heavy-duty truck at the Port of Long Beach, California, USA.

[Asia Economy Reporter Choi Dae-yeol] Hyundai Motor Company recently introduced a product called ‘Hyundai Home’ in the United States. It is a package consisting of solar panels that can generate electricity at home, energy storage systems (ESS) to store the electricity, and electric vehicle chargers.

The service also includes installation of these devices through a local home power grid specialist called Electrum, which provides advice on the most efficient methods. Hyundai is collaborating with Electrum, a company that offers home power grid products and services locally.

Earlier, the concept was showcased at last year’s LA Auto Show and received positive feedback, leading to actual mass production. While some domestic and regional businesses sell electric vehicle chargers or operate charging services, this is the first time a comprehensive solution related to charging is being offered as an integrated package.

Overview of Hyundai Home recently introduced by Hyundai Motor Company in the United States. Electricity is generated using solar panels and then stored in a storage system composed of batteries, which is used for charging electric vehicles.

At first glance, this might seem like a promotional effort to increase electric vehicle adoption, but the underlying significance is considerable. It demonstrates how the company is realizing its long-standing vision of "progress for humanity" and "sustainable mobility" in practical terms.

It is only partially true that electric vehicles are environmentally friendly because they emit no exhaust gases, unlike internal combustion engine vehicles. Significant carbon emissions occur during the production and manufacturing processes, and currently, the generation of electricity?the power source?also produces considerable carbon emissions. Although renewable energy has increased, it still accounts for less than 10% of South Korea’s total electricity generation, which is not carbon-free.

The target of ‘Hyundai Home’ is multifaceted. In the U.S., recent years have seen unexpected natural disasters and accidents causing blackouts, as well as energy crises due to changes in international affairs, leading to a growing awareness that stable electricity supply cannot be taken for granted.

In September this year, President Joe Biden visited GM's electric vehicle plant in Michigan, USA, and is seen getting out of the car with the assistance of Mark Reuss, GM President.

Criticism that the centralized grid power system, which has lasted over a century, is unsuitable for both the present and future has been consistent for several years. The method of generating electricity at a few large power plants and distributing it everywhere was established long ago without considering the climate crisis, making it an ‘incorrect’ system.

Experts point out that to produce and use electricity mainly from renewable energy, society must establish a decentralized and individualized grid power system. Additionally, in the U.S., the prevalence of detached housing where wide panels or chargers can be installed provides favorable conditions for ‘Hyundai Home’ to attract attention. The fact that President Joe Biden’s administration is pushing for decarbonization and driving renewable energy is also a positive factor.

As commonly said, the electrification transition that automakers talk about is not simply about producing and selling more electric vehicles instead of internal combustion engine cars. ‘Hyundai Home’ is the result of considering how to obtain the power source used to operate vehicles.

Jose Munoz, Hyundai Motor's Global Chief Operating Officer, is speaking at the pre-media event of the LA Auto Show, which opened on the 17th (local time).

Hyundai Motor Company faces a situation where it cannot benefit from the $7,500 (approximately 10 million KRW) tax credit per electric vehicle under the Inflation Reduction Act (IRA). Although some models will soon be produced locally, most volume models responsible for sales must be manufactured in Korea and shipped until the new local electric vehicle-only factory is completed in 2025.

With fierce competition as major manufacturers including Tesla release new electric vehicles one after another, there are concerns that Hyundai may fall behind due to weakened price competitiveness. Despite these challenging conditions, the fact that Hyundai conceived and launched a solution like ‘Hyundai Home’ indicates that, regardless of policy issues, the company judged this to be the ‘right direction.’

Various electric vehicle chargers featured on Hyundai Home Marketplace

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