Hyundai Motor Group, South Korea’s high automotive group, mentioned Sept. 9 it plans to enter the renewable vitality market together with native photo voltaic vitality agency OCI.
Below the memorandum of understanding, Hyundai Motor will set up vitality storage methods at OCI’s solar energy stations in Korea and Texas, United States, to gauge whether or not the enterprise is possible.
Hyundai has not too long ago been pushing to develop ESS within the after-market use of electrical car batteries.
Final June, Hyundai signed a strategic partnership with Finland‘s vitality large Wartsila on creating the industrial marketplace for ESS utilizing recycled EV batteries.
“ESS is an environment-friendly solution to resolve the wasted EV battery downside,” Hyundai mentioned in an announcement. “With our newest venture, we’ll improve our know-how and safe a stepping-stone to enter the renewable vitality market.”
By Ram Garikipati and newswires (firstname.lastname@example.org)