Kuruu, an independent in-house company of LG Energy Solution, announced on the 5th that it will start a battery swapping business for electric two-wheelers.
Instead of charging the depleted battery of an electric two-wheeler, exchanging it for a fully charged battery at a Battery Swap Station (BSS) is expected to significantly reduce operating costs compared to conventional two-wheelers.
Battery exchange station of Kuru, an independent in-house company of LG Energy Solution (Photo by LG Energy Solution)
The maintenance cost of electric two-wheelers using BSS is about half that of conventional two-wheelers. If a rider travels 125 km per day, a conventional two-wheeler costs approximately 470,000 KRW per month, including fuel and insurance fees. However, by using Kuruu’s unlimited monthly plan at 110,000 KRW, the cost can be reduced to 230,000 KRW, cutting more than half.
Kuruu has made it especially easy for delivery riders to use BSS. Since the end of last year, during the pilot operation period, Kuruu has operated a joint electric two-wheeler experience group with delivery platform companies Woowa Brothers, Yogiyo, two-wheeler management solution company Onus, and Toyota. It is explained that about 70% of the participants in the experience group wished to convert to paid membership, showing great popularity.
Kuruu is planning various discount events that allow delivery riders to use the service at even lower prices, and is currently running an early bird discount event with electric two-wheeler manufacturer Daedong Mobility, offering up to 1.3 million KRW for the first customers.
Additionally, Kuruu enables users to check congestion levels in advance or reserve batteries for swapping through a mobile app before visiting the Battery Swap Station. It also supports safe driving to the station by linking with navigation systems.
Kuruu is currently operating about 180 BSS units mainly in the southern Han River areas such as Gwanak-gu and Dongjak-gu in Seoul, where delivery demand is high. The company plans to expand the station installation areas to cover all of Seoul within this year and install 1,000 units in the metropolitan area by 2025.
Park Chan-woo, CEO of Kuruu, said, "We have greatly enhanced convenience and safety by adding LG Energy Solution’s technological leadership to electric two-wheelers, which are free from noise and exhaust emissions," and added, "We will take the lead in creating an eco-friendly two-wheeler ecosystem that prioritizes differentiated customer values such as environment and safety."
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