Hyundai Motor Group and Wärtsilä Forge New Partnership to Utilize Second-life Electric Vehicle Batteries

06/26/2018, Seoul

  • Global Partnership Between World’s Fifth Largest Automaker and Energy Systems Integrator to Enable Sustainability in Second-Life EV Battery Opportunity


SEOUL, Jun 26, 2018
– Hyundai Motor Group (HMG) has comparison Wärtsilä for a record and blurb partnership designed to implement second-life electric car (EV) batteries for a flourishing appetite storage market. The tellurian partnership will mix HMG’s enlargement in electric vehicles with Wärtsilä’s flourishing appetite business, that includes 67 GW of commissioned appetite plants and modernized appetite storage technologies and program combined by a merger of Greensmith Energy.

The partnership will aim modernized appetite storage products and platforms that maximize HMG’s second-life EV batteries to be commercialized in Wärtsilä’s existent patron and channel networks opposite 177 countries globally. Wärtsilä sole tighten to 4 GW of appetite plants in 2017 in both grown and building regions of a world.

The partnership will emanate a flourishing business and marketplace for modernized appetite storage systems and aim both utility-scale and blurb applications suitable for second-life EV batteries. The compared business indication and partnership will pursue a investiture of a continuous, tellurian supply sequence that leverages pivotal OEM relations to take a holistic proceed from battery manufacturing, EV applications and appetite storage redeployments as good as recycling of materials.

“Energy storage is a judicious subsequent step in a after-market use of EV batteries,” pronounced Dr. Youngcho Chi, Executive Vice President of Strategy Technology Division and Chief Innovation Officer of Hyundai Motor Group. “By repurposing resource-intensive products like EV batteries, we discharge ordering costs and extend a value of a RD investment that goes into production a technology. HMG is strengthening a care in purify record and sustainability by participating in a new appetite business.”

In 2025, there will be 29 GWh of second-life EV batteries available, distant surpassing a distance of today’s still storage market, with 10 GWh now accessible for storage application. This presents a blue sea in a new appetite business that a partnership between HMG and Wärtsilä aims to gain on.

“Wärtsilä by a capabilities and formation knowledge of Greensmith Energy, will rise a cleaner and some-more absolute proceed to second-life battery applications for Hyundai Motor Group,” pronounced Javier Cavada, President of Wärtsilä Energy Solutions. “Our vital partnership with Hyundai Motor Group represents a life-cycle prophesy Wärtsilä strives to broach to a business and partners around a world. Incorporating second-life-EV batteries into a appetite and formation business underscores a low joining to building tolerable societies with intelligent technologies.”

Hyundai Motor Group is building a 1MWh-level ESS that utilizes Hyundai IONIQ Electric’s and Kia Soul EV’s second-life battery by regulating a exclusive record and has implemented a proof plan in Hyundai Steel’s factory.

Started in a US, Greensmith Energy has deployed over 70 grid-scale systems opposite 9 countries and offers an industry-leading appetite program height called GEMS, now in a fifth generation. As a Wärtsilä company, Greensmith is accelerating a strech into an expanding tellurian marketplace for programmable appetite storage and personification a pivotal purpose in Wärtsilä’s prophesy to capacitate a expansion and transition towards renewables by flexibility, trustworthiness and integration.

       

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About Wärtsilä
Wärtsilä is a tellurian personality in modernized technologies and finish lifecycle solutions for a sea and appetite markets. By emphasizing tolerable creation and sum efficiency, Wärtsilä maximizes a environmental and mercantile opening of a vessels and appetite plants of a customers. In 2016, Wärtsilä’s net sales totaled EUR 4.8 billion with approximately 18,000 employees. The association has operations in over 200 locations in some-more than 70 countries around a world. Wärtsilä is listed on Nasdaq Helsinki. Learn some-more during www.wartsila.com


About Greensmith Energy, a Wärtsilä Company
As a heading provider of appetite storage program and formation services, Greensmith’s goal is to make appetite storage a elemental partial of a some-more resilient, intelligent and distributed appetite infrastructure. Now in a fifth generation, Greensmith’s GEMS program height optimizes a opening of appetite storage and integrated grid resources by obscure costs and maximizing complement lapse on investment. Learn some-more during www.greensmithenergy.com