Pilot Project to Launch in Jeju Next Month, Contributing to Grid Stability
V2G Service to Be Commercialized in the Netherlands
Hyundai Motor Group will introduce the 'V2G (Vehicle to Grid)' technology, which enables electric vehicle batteries to be used as power energy resources, for the first time in Korea.
Hyundai Motor Group announced that it will launch a V2G pilot service on Jeju Island starting at the end of December. V2G is a technology that not only charges electric vehicle batteries via a dedicated bidirectional charger, but also supplies electricity from the vehicle to the power grid, allowing electric vehicles to function as energy storage devices. The system determines the optimal timing and amount of charging and discharging by considering factors such as electricity demand and supply conditions, as well as electricity prices.
During periods of relatively low electricity demand and cheaper prices, vehicles are charged. Conversely, during periods of high demand and prices, the remaining electricity in the electric vehicles is discharged from the vehicles to the power grid.
This service is part of the 'Financial business agreement for the creation of a green hydrogen and distributed energy ecosystem' signed with Jeju Province in September. Hyundai Motor and Kia will oversee overall business operations and validate the V2G technology, while Hyundai Engineering will establish analysis and advancement plans for the charging service. Jeju Provincial Government will improve related ordinances and systems, and Korea Electric Power Corporation will connect electric vehicles with the distribution grid, making this a joint public-private initiative.
Hyundai Motor Group expects that, once commercialized, this V2G pilot service will help stabilize the power grid by adjusting the imbalance between electricity supply and demand.
Given Jeju Island's high proportion of wind and solar power generation, surplus electricity generated during the day can be absorbed by electric vehicles and then supplied back to the grid at night, thereby increasing both the utilization and economic efficiency of renewable energy.
Customers wishing to participate in the pilot service must own an IONIQ 9 or EV9 and be able to install a charger at their home or workplace. Hyundai Motor Group plans to recruit participants through the Jeju Provincial Government website and social media starting in early December and will launch the pilot service with a total of 55 vehicles at the end of December.
Participating customers will receive a free bidirectional charger installation, and all vehicle charging fees during the operation period will be fully covered.
Hyundai Motor Group will use the data accumulated from this pilot service to verify the technology and business feasibility. Once V2G-related regulations are established, Hyundai Motor Group plans to commercialize V2G services on Jeju Island and expand the service to other regions in Korea through consultations with the government and local authorities.
Hyundai Motor Group is also launching official V2G services in Europe. Starting at the end of December this year, Hyundai Motor Group will become the first automaker in the Netherlands to commercialize V2G services for local IONIQ 9 and EV9 owners. Next year, the company plans to expand the range of eligible vehicles in the Netherlands and sequentially launch the service in other European countries, including the United Kingdom.
In the United States, Hyundai Motor Group is also offering V2H (Vehicle to Home) services, which supply emergency power to homes from electric vehicles during natural disasters such as large-scale wildfires. Since February this year, Kia has been operating the service for EV9 owners in seven states, including California and New York, and Hyundai Motor plans to launch the V2H service at the end of this year according to the over-the-air update schedule for each vehicle model.
Jung Hoguen, Executive Vice President of the Future Strategy Division at Hyundai Motor Group, stated, "We expect that power technologies utilizing electric vehicles, represented by V2G, will provide electric vehicle customers with a new mobility experience. The domestic and international V2G services will strengthen Hyundai Motor Group's electric vehicle competitiveness and serve as a catalyst for leading the eco-friendly mobility and future energy markets."
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