(News Focus) S. Korean EV industry embraces second life for used batte…
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By Kim Eun-jung
SEOUL, May 7 (Yonhap) -- As electric vehicle sales are growing in South Korea, one big issue coming in the foreseeable future is what to do with rechargeable batteries that outlive their useful life for a vehicle.
Lithium-ion batteries, a key component that determines an EV's driving range and performance, inevitably degrade with time and use, and they are recommended for replacement within 5-10 years due to slowing charging speeds and shorter driving range.
One idea is to reuse still-useful batteries in less-demanding applications, such as energy storage systems (ESS), which store power during off-peak hours to complement intermittency of renewable energy produced by solar or wind power.
Recycling could make sense if the batteries are considered not desirable for reuse but still contain highly valuable metals, especially amid rising prices of nickel and cobalt and potentially tight supply of other battery materials.
The need to dispose of a rising number of EV batteries in the future has already prompted EV makers and battery manufacturers to explore ways to reuse or recycle them, leading to the emergence of new industries and business models.
The nation's energy ministry predicted the number of used EV batteries to jump from 1,400 in 2020 to over 67,000 in 2030 and 2.45 million in 2040 in line with a hike in EV sales.
Hyundai Motor Group, which aims to release 23 EV models by 2025 across Hyundai Motor and Kia models, has joined hands with its battery suppliers and local energy companies to explore a feasible, sustainable second life for EV batteries.
In January, Hyundai Motor Co., South Korea's largest automaker, began a pilot program for EV battery-based ESS to store electricity for a 2 megawatt-hour (MWh) solar power plant inside its Ulsan factory on the nation's southeastern coast.
By Kim Eun-jung
SEOUL, May 7 (Yonhap) -- As electric vehicle sales are growing in South Korea, one big issue coming in the foreseeable future is what to do with rechargeable batteries that outlive their useful life for a vehicle.
Lithium-ion batteries, a key component that determines an EV's driving range and performance, inevitably degrade with time and use, and they are recommended for replacement within 5-10 years due to slowing charging speeds and shorter driving range.
One idea is to reuse still-useful batteries in less-demanding applications, such as energy storage systems (ESS), which store power during off-peak hours to complement intermittency of renewable energy produced by solar or wind power.
Recycling could make sense if the batteries are considered not desirable for reuse but still contain highly valuable metals, especially amid rising prices of nickel and cobalt and potentially tight supply of other battery materials.
The need to dispose of a rising number of EV batteries in the future has already prompted EV makers and battery manufacturers to explore ways to reuse or recycle them, leading to the emergence of new industries and business models.
The nation's energy ministry predicted the number of used EV batteries to jump from 1,400 in 2020 to over 67,000 in 2030 and 2.45 million in 2040 in line with a hike in EV sales.
Hyundai Motor Group, which aims to release 23 EV models by 2025 across Hyundai Motor and Kia models, has joined hands with its battery suppliers and local energy companies to explore a feasible, sustainable second life for EV batteries.
In January, Hyundai Motor Co., South Korea's largest automaker, began a pilot program for EV battery-based ESS to store electricity for a 2 megawatt-hour (MWh) solar power plant inside its Ulsan factory on the nation's southeastern coast.
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