[Climate Tech Battle⑤] Internal Combustion Engine Trucks Turn Electric in Three Days... JM Wave

Interview with Park Jung-min, CEO of JM Wave, a Repower Specialist Company
Reducing Carbon Emissions Further through Vehicle Body Recycling

In just three days, an internal combustion engine 1-ton truck can be converted into an electric vehicle. This is made possible through the 'repower' technology developed by JM Wave, established in 2017. Repower refers to the technology that transforms internal combustion engine vehicles into electric vehicles. JM Wave received the first-ever regulatory sandbox approval from the Ministry of Land, Infrastructure and Transport in Korea last year after passing safety verification tests. The Ministry of Environment also secured subsidies for electric vehicle purchases. The most notable feature is the rapid conversion process.

Park Jung-min, CEO of JM Wave, is explaining JM Wave's core technology that converts internal combustion engine trucks into electric vehicles.

On the 8th, Park Jeong-min, CEO of JM Wave, stated, “From vehicle inspection upon arrival, removal of the internal combustion engine, to installation of electrification components and final delivery, it only takes three days,” adding, “This is thanks to the long-term development of a system that condenses hundreds of parts into modular units stored together like a set, allowing for quick assembly and fixation.” Even with the relevant technology, converting an internal combustion engine vehicle to an electric vehicle typically takes at least two weeks to over a month. Reducing this to three days, including the administrative procedure of bringing the converted vehicle to the automobile inspection station for testing, takes into account that many 1-ton truck drivers rely on their vehicles for their livelihood and cannot afford long downtime. Park explained, “We try to preserve as much as possible, keeping components like the steering wheel, accelerator, and brake pedals intact.”

Another advantage is the reduced carbon emissions through vehicle body recycling compared to producing and operating a new electric vehicle. Park said, “JM Wave’s repowering kit, which reuses the body and chassis of internal combustion engine vehicles, results in 53% lower carbon emissions compared to the life cycle assessment (LCA) of internal combustion engine vehicles, and 19% lower than new electric vehicle production,” adding, “Perhaps due to expectations for carbon emission reduction, related government departments have shown great interest.”

Vehicles transformed into electric cars have their mileage reset to zero. For example, even if an internal combustion engine vehicle was manufactured in 2017 and has been driven over 200,000 km, once it undergoes body reinforcement and conversion to an electric vehicle, the mileage record is reset to zero as if it were new. Park explained that this means the vehicle body is in good condition and has passed all safety evaluations, so it is recognized as a new vehicle.

Park Jung-min, CEO of JM Wave, is explaining JM Wave's core technology that converts internal combustion engine trucks into electric vehicles.

JM Wave analyzes that there is no sector where carbon emission reduction can be achieved as immediately as in mobility. Park said, “Industries like steel find it difficult to reduce carbon emissions, and even semiconductors cannot reduce carbon across all processes despite mandatory efforts,” adding, “If there is a place where improvements can be made quickly, it should be done, and that place is mobility.” This is because the moment an internal combustion engine vehicle is converted to an electric vehicle, it becomes zero emission. The primary target is the last-mile commercial truck sector. Transporting goods from large warehouses to regional warehouses is called middle-mile, and from regional warehouses to homes is last-mile. Park said, “There are over 150,000 last-mile delivery trucks nationwide, making it the largest truck market,” adding, “Certification was completed last April, and full-scale mass production will begin in the second half of the year.”

Although now legally recognized and attracting interest from many places, it was not easy at first. It took 30 months just to pass the regulatory sandbox. As a new industry, there were no related regulations, so each regulation had to be lifted one by one. Many doubted whether a small company could really manufacture vehicles. Park said, “We are breaking through regulations like an icebreaker in a market where no one else dared to try, and when latecomers enter, the industry pie will grow, which is good,” adding, “From the perspective of reducing carbon, climate tech companies should unite rather than compete and fight.”

JM Wave plans to donate and provide technical support to developing countries for global carbon neutrality. They are also preparing to link with official development assistance (ODA) projects conducted by the Climate Change Center. This is to achieve the vision of ‘thinking about the environment and the future.’ Park said, “If electric vehicle conversion technology is introduced to developing countries where purchasing new electric vehicles is relatively difficult, carbon emissions can be reduced more quickly,” adding, “If countries like Indonesia and Cambodia adopt our technology, we will provide support there, and if we secure carbon credits, we plan to sell the credits and reinvest the proceeds back into those countries.”

The process of converting an internal combustion engine vehicle to an electric vehicle
[Photo by JM Wave]

Editor's NoteThe 'carbon war' has begun. From the distant goal of achieving carbon neutrality by 2050 to the immediate necessity of responding to the EU’s Carbon Border Adjustment Mechanism (CBAM) ? a mandatory export requirement ? our economy has been thrust into the battlefield of technological innovation. The carbon emissions reducible by currently commercialized technologies amount to less than half of the projected global emissions in 2050. Rapid and bold climate tech innovation is urgently needed. Here, we share the stories of those who have stepped forward to lead this effort.