Hyundai Engineering Accelerates Electric Vehicle Charging Business

Selection of Electric Vehicle Charging Subsidy Provider
Application of Charging Solutions from Design of Hillstate Apartments

[Asia Economy Reporter Kim Hyemin] Hyundai Engineering is making a full-scale entry into the electric vehicle (EV) charging business.

On the 12th, Hyundai Engineering announced that it has been selected as a subsidy recipient for this year's EV charging support project led by the Ministry of Environment, and is signing memorandums of understanding (MOUs) with various local governments to build EV charging infrastructure.

On the 10th, at Palyongsan Hall in Goheung County Office, Jeollanam-do, Kwon Moon-han, Executive Director of Hyundai Engineering (fifth from the left), Gong Young-min, Governor of Goheung County (fourth from the left), and others held the 'Electric Vehicle Charging Facility Construction Business Agreement Ceremony' and took a commemorative photo. (Photo by Hyundai Engineering)

Since registering as an EV charging business operator in September 2020, Hyundai Engineering has been carrying out the Hyundai Motor Group's EV charging infrastructure construction projects. In October last year, it also established a dedicated business organization by creating the EVC team within the Asset Management Division.

With its selection as a subsidy recipient this time, Hyundai Engineering plans to actively build EV charging infrastructure. It intends to supply charging facilities across government agencies, factories, office, commercial, residential facilities, and parking lots. The company aims to enter the 'Top 5' in the EV charging business market by 2025.

In particular, as the construction company of Hillstate apartments, Hyundai Engineering is considering prioritizing the application of charging solution systems from the design stage of Hillstate apartments. To this end, on the 3rd, it signed a tripartite business agreement with Hyundai Motor, Kia, and Woori Management to cooperate in expanding EV charging infrastructure in apartments.

Furthermore, to secure stable supply sources, Hyundai Engineering is signing MOUs with various local governments for the construction of EV charging infrastructure. On the 10th, it signed an MOU with Goheung County Office in Jeollanam-do and plans to install 42 rapid chargers and 51 slow chargers in public facility parking lots such as the Goheung County Office building, Goheung Space Launch Observatory, and Nokdong New Port Passenger Terminal within six months. Additionally, MOUs have been signed for EV charging infrastructure construction at Dangjin City Hall in Chungnam, Goseong County Office in Gangwon, Gimhae City Hall in Gyeongnam, and sites within Seoul.

A Hyundai Engineering official said, "We have undergone sufficient preliminary preparations and verifications, such as pilot tests and business organization restructuring, to fully activate the EV charging business," adding, "The EV charging business is expected to greatly contribute to Hyundai Engineering securing a more balanced business portfolio alongside new businesses in the plant, housing, and energy sectors."