Wärtsilä and Hyundai Motor Group have signed a technology and commercial partnership designed to promote the use of second-life electric vehicle (EV) batteries in the growing energy storage market. The global partnership will combine Hyundai’s expansion in electric vehicles, with Wärtsilä’s energy business, which includes 67 GW of installed power plants, as well as advanced energy storage technologies and software through the acquisition of Greensmith Energy. The partnership will target advanced energy storage products and platforms that maximise Hyundai’s second-life EV batteries to be commercialised in Wärtsilä’s existing customer and channel networks across 177 countries. The long-term 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. The associated business model and collaboration will pursue the establishment of a continuous, global supply chain which will leverage key OEM relationships to take a holistic approach from battery manufacturing, EV applications and energy storage redeployments as well as recycling of materials.
Contact Seonjin Cha, Hyundai Motor Group, email@example.com
Source: EE plublishers