"Micro Electric Vehicles Enter the Era of Wireless Charging"

KST Electric's 2023 Development Goal... 2-Hour Charging Model Launching This Month

Next to Myb is Kim Jong-bae, CEO of KST Electric.
[Photo by KST Electric]

[Asia Economy Reporter Kim Jong-hwa] After fully charging in 15 minutes at a wireless charger in an urban gas station, the car turns 180 degrees on the spot and immediately starts driving. Since solar charging is possible, there is no worry about battery depletion even on days of long-distance driving. Level 3 semi-autonomous driving allows the driver to let go of the steering wheel and stretch briefly.

This will be possible by 2023. Kim Jong-bae, CEO of KST Electric, which produces and sells the ultra-compact electric car ‘MAIV’, said, "Within 2 to 3 years at the latest, you will be able to drive an ultra-compact electric car equipped with all these features," adding, "Ultra-compact electric cars are rapidly evolving."

It has been five years since ultra-compact electric cars were commercially available in Korea. Interest in ultra-compact electric cars grew when the Korea Post decided in 2018 to replace existing two-wheelers with ultra-compact electric cars for the safety of postal workers. Since the end of last year, ultra-compact electric cars driving in downtown Seoul have become frequently seen, and inquiries have increased significantly.

The MAIV produced by KST Electric features a cute design and a large loading area capable of carrying 15 boxes of tangerines weighing 10 kg each or two golf clubs. It takes 3 hours for a full charge, can drive over 100 km on a single charge, and can reach up to 150 km using an auxiliary battery pack.

The 2021 model MAIV2, scheduled for release at the end of this month, reduces charging time to 2 hours, and the 2022 model MAIV3 installs solar charging panels on the vehicle roof to enable charging while driving. The innovative MAIV4 is planned for release in 2023.

'MyB' supplied for car sharing in the Gangneung Smart City project is lined up. [Photo by KST Electric]

CEO Kim said, "The 2023 model will feature Level 3 semi-autonomous driving and a wireless charging system that automatically charges when parked near the charger," adding, "Currently, about 40% of key components such as the motor and battery are domestically produced, but the 2023 model will have 100% domestically produced parts and plans to start exports to Southeast Asia."

The sales target for this year is 1,000 units. They have also signed an after-sales service (A/S) contract with Modil, an electric vehicle specialized maintenance company, establishing a nationwide maintenance network. He said, "Currently, we have to sell infrastructure and cars together," and added, "We will also establish a system in cooperation with GS gas stations nationwide to enable rapid charging within 15 minutes."

Obstacles delaying the spread of ultra-compact electric cars include insufficient infrastructure such as charging stations, reduction of subsidies by local governments, and prohibition of driving on exclusive automobile roads, but the biggest hurdle is consumers’ misconceptions about ultra-compact electric cars. CEO Kim said, "Ultra-compact electric cars, mainly used for urban delivery or commuting, have been proven to be safer than any other cars through test results, but consumers still cannot overcome their anxiety," adding, "We need to change society’s perception that looks down on small cars first."

KST Electric also plans to produce electric two-wheelers aiming for release next year. CEO Kim emphasized, "This year is the first year of ultra-compact electric cars." Since last year, orders for ultra-compact electric cars have increased mainly from small and medium-sized marts and delivery and courier companies, and this year’s sales volume could greatly influence the future spread of the ultra-compact electric car boom.