South Korean vehicle OEM Hyundai Motor Group has committed to a joint project with Korea-based energy solution firm OCI to reuse second-life lithium-ion batteries from EV’s in energy storage systems (ESS).
The systems will be used in solar power generation applications following the signing of a memorandum of understanding on 9 September.
It is understood the Hyundai will test the validity of the venture by installing ESSs at OCI’s solar power stations both in Korea and Texas, US.
It is not the first time Hyundai has investigated the concept of using second-life EV batteries.
In June 2018, the firm entered into a strategic partnership with Wärtsilä to commercialise ESSs for the stationary storage market, in which the Finnish company has an existing customer base across 177 countries.
By 2025, there is expected to be around 29GWh of second-life EV batteries available— almost triple the 10GWh available for storage applications at the moment.
Hyundai, alongside Kia Motors Corporation, announced on 9 September it was going to invest in Ionity, a joint venture established in 2017 between vehicle OEMs:BMW Group, Daimler, Ford Motor Company, and Volkswagen Group with Porsche AG.
Since its formation,the JV has deployed around 140 charging stations in Europe in operation with 50 more under construction. The technology is characterised by a charging capacity of up to 350kW, and its use of the universal charging standard Combined Charging System.
Pictured: Hyundai Motor Group President Chi Young-cho, right, shakes hands with OCI CEO Kim Taek-joung
