Hyundai and Wärtsilä partner to utilise second-life EV batteries

Hyundai has partnered with Wärtsilä to utilise second-life electric vehicle (EV) batteries for energy storage opportunities.

The global partnership will combine Hyundai’s expansion in electric vehicles with Wärtsilä’s growing energy business, which includes 67 GW of installed power plants and advanced energy storage technologies and software created through the acquisition of Greensmith Energy.

The partnership will target advanced energy storage products and platforms that maximize HMG’s second-life EV batteries to be commercialized in Wärtsilä’s existing customer and channel networks across 177 countries globally. Wärtsilä sold close to 4 GW of power plants in 2017 in both developed and developing regions of the world.

The partnership will create a growing business and market for advanced energy storage systems and target both utility-scale and commercial applications suitable for second-life EV batteries.

“Energy storage is the logical next step in the after-market use of EV batteries,” said Dr. Youngcho Chi, Executive Vice President of Strategy & Technology Division and Chief Innovation Officer of Hyundai Motor Group. “By repurposing resource-intensive products like EV batteries, we eliminate disposal costs and extend the value of the R&D investment that goes into manufacturing the technology. HMG is strengthening its leadership in clean technology and sustainability by participating in the new energy business.”