Hyundai Motor Company will entrust the operation of 24 ultra-fast charging stations nationwide to Korea Electric Vehicle Charging Service (KEVCS). After the major shareholder of KEVCS changed from KEPCO, a public company, to Hyundai Motor Group, management changes began in earnest. Hyundai Motor became the largest shareholder of KEVCS in October.
According to the industry on the 26th, KEVCS will be in charge of maintenance, management and operation of 24 ultra-fast charging stations nationwide that Hyundai Motor Group is servicing. Currently, Hyundai Motor Group is servicing seven charging stations of Hyundai Motor, Kia, and Genesis integrated charging brand 'E-pit' and Hyundai Motor's exclusive charging brand 'Hi-Charger' in 17 locations across the country. A total of 109 ultra-fast chargers are in operation, including E-pit (94 units) and Hi-Charger (15 units). These chargers are the fastest 350kW ultra-fast charging facilities in Korea, and unlike other domestic charging companies, they are the largest private facilities in Korea built with the capital of Hyundai Motor Group.
Hyundai Motor Group is also pursuing a plan to integrate E-pit and Hi-Charger, which are operating seperately, into E-pit to increase service efficiency through KEVCS.
As KEVCS takes over the management and operation of E-pit and Hi-Charger, profitability is expected to improve significantly. This is because charging stations for both E-pit and Hi-Charger have been installed at highway rest areas or major facilities in the city center, which are highly accessible for electric vehicle users. Hyundai Motor Group plans to at least double the number of its 24 independent charging stations nationwide in the new year.
Hyundai Motor Group also plans to appoint CEO of KEVCS next month. Hyundai Motor and Kia's charging service-related specialists will also be dispatched in addition.
A Hyundai Motor Group official said, “Hyundai Motor Group plans to manage charging stations through E-pit, and operation of charging stations (related to KEVCS) is still under review,” and continued “we will focus on minimizing the inconvenience of charging electric vehicle customers.”
Hyundai Motor Group is also strengthening the quality of its charging service through KEVCS. A new charger operation control system that strengthens service compatibility with a plurality of other charging service providers and a charging intermediary system between charging service providers will be introduced. In addition to 'Plug and Charge', which allows charging and payment at the same time, they plan to expand and apply innovative technology services that did not exist before.
In October, Hyundai Motor Group exclusively participated in a KRW 6 billion scale third-party allocation of recapitalization conducted by Korea Electric Vehicle Charging Service, securing about 52% of the company's stake.
Hyundai Motor Group’s Electric Vehicle Ultra-fast Charging Station Operation Status (Source: Hyundai Motor Group)
By Staff Reporter Tae-jun Park (gaius@etnews.com)