Water and Socar Sign Business Agreement: "Socar Members to Find Highway EV Charging Easier"

Collaboration to Promote the Use of Eco-Friendly Electric Vehicles
Expanding Ultra-Fast Charging Infrastructure Nationwide

Electric vehicle fast charging network Water announced on the 20th that it has signed a memorandum of understanding (MOU) with Socar to promote the use of eco-friendly electric vehicles and expand ultra-fast charging infrastructure.

Through this agreement, Water and Socar plan to build ultra-fast charging infrastructure at highway rest areas and major hubs nationwide, cooperating to reduce charging time for electric vehicle users. Socar, which started its service in 2012, has secured over 10 million members as of August 2024.

Yudaewon, Head of the Electric Vehicle Charging Business Division (Water) at Bright Energy Partners (BEP) (left), and Namgung Ho, Chief Business Officer (CBO) of Socar, are signing a Memorandum of Understanding (MOU) to expand electric vehicle charging infrastructure. Photo by Bright Energy Partners

Water is an electric vehicle charging brand launched in November 2022 by Bright Energy Partners, a climate infrastructure investment and operation company. By the end of April, it plans to install 206 ultra-fast and fast chargers at 46 highway rest areas nationwide.

The two companies agreed to actively utilize Water’s charging infrastructure to expand the use of eco-friendly electric vehicles and collaborate to develop newly established electric vehicle charging infrastructure as "Socar Electric Vehicle Zones" (Socar Zones). They also plan to jointly participate in charging infrastructure expansion projects led by government agencies or local governments.

Through this cooperation, Socar users will be able to easily search for and use Water charging stations within the Socar app. Additionally, by utilizing Water’s ultra-fast charging infrastructure, charging time is expected to be reduced to around 20 minutes, greatly enhancing the convenience of electric vehicle charging for Socar users. Approximately 60% of Socar’s electric vehicle charging demand occurs on highways, but among existing Socar charging partners, charging stations available at highway rest areas were limited. Water and Socar will officially begin their ultra-fast and fast charging network cooperation for Socar users starting early April.

Yoo Dae-won, CEO of Water, said, "By expanding ultra-fast charging infrastructure at major hubs and highway rest areas nationwide, we will support electric vehicle users to charge more conveniently."