Public-Private Cooperation to Foster Electric Vehicle Battery Service Industry
The government will support not only electric vehicle battery manufacturing but also battery service industries such as mobile charging services and power trading platform services. The battery service industry is identified as a 'future growth engine' alongside the global expansion of electric vehicle adoption. Various services can be created by utilizing batteries, such as supplying power to apartments after charging electric vehicle batteries.
View of the Ministry of Land, Infrastructure and Transport building at the Sejong Government Complex. [Photo by Yonhap News]
The Ministry of Land, Infrastructure and Transport, the Ministry of Trade, Industry and Energy, and the Ministry of Environment announced on the 18th that they will hold the "Electric Vehicle Battery Service Industry Promotion Meeting" at the Korea Chamber of Commerce and Industry in Seoul, which includes public-private cooperation content. The meeting is co-hosted by the Korea Battery Industry Association and the Korea Automobile Mobility Industry Association. A business forum where participating companies introduce battery service business models will also be held as a preliminary event.
Electric vehicle battery services refer to various value-added services throughout the entire lifecycle of the battery, from installation in electric vehicles to charging, maintenance and replacement, removal and transportation, remanufacturing, reuse, and recycling. Power supply services using electric vehicle batteries are also included in electric vehicle battery services.
At the meeting, eight promising business models selected by the industry were presented. These include mobile charging services that utilize electric vehicle batteries like energy storage systems (ESS) and battery subscription services where batteries are leased.
On the same day, a "public-private joint consultative body" involving the Ministry of Land, Infrastructure and Transport, the Ministry of Trade, Industry and Energy, the Ministry of Environment, and the industry was launched. With the expansion of electric vehicle adoption, "lifecycle services for batteries" are emerging as a promising future industry. Public-private cooperation is emphasized to foster such new industries.
An official from the Ministry of Land, Infrastructure and Transport said, "Previously, the government met with battery manufacturers to listen to their difficulties and provide support, but going forward, the scope of support will expand not only to battery manufacturers but also to battery-related services."
Through this, the government and industry plan to continuously cooperate not only on the eight promising models but also on the growth and development of the electric vehicle battery service industry. The consultative body is designed to listen to industry difficulties and resolve issues.
Additionally, through this consultative body, the government and industry will work together on ▲ establishing common standards necessary for industry activation such as performance evaluation, transportation, and storage ▲ promoting demonstration projects for promising service models such as battery replacement and mobile chargers.
Baek Won-guk, the 2nd Vice Minister of the Ministry of Land, Infrastructure and Transport, stated, "The electric vehicle battery industry needs to expand its scope beyond serving as a power source for electric vehicles to various service businesses," adding, "We will spare no effort to support cooperation with related ministries so that the public can conveniently use electric vehicles and battery services."
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