Hyundai Motor Group is launching a service that utilizes electric vehicles as mobile energy platforms.
On July 21, the company announced the launch of its integrated global brand for energy services connecting vehicles and power, called 'AllDayEnergy.'
V2X technology allows for two-way connections between electric vehicle batteries and the power grid, enabling cost savings on charging and the potential to supply power back to the grid for additional revenue. This system is designed to charge vehicles during off-peak hours when electricity rates are lower and supply power during peak demand times.
Hyundai Motor Group plans to consolidate its previously country-specific V2X services under the AllDayEnergy brand, starting with a rollout in the UK and expanding to other key markets using the Hyundai vehicle app.
In South Korea, a Vehicle-to-Grid (V2G) pilot project is underway in Jeju Island, where 40 owners of the Ioniq 9 and Kia EV9 are participating in a demonstration to connect their electric vehicles to the power grid. The project aims to validate the potential for using vehicle batteries as mobile energy storage systems (ESS) to stabilize the grid and facilitate energy trading.
Industry experts believe that as electric vehicle adoption increases, the value of V2G technology will also grow. Korea Electric Power Corporation estimates that if 100,000 electric vehicles capable of bi-directional charging discharge simultaneously for one hour, they could supply approximately 1 gigawatt of power, enough for about 800,000 people for one hour.
Globally, V2G services are rapidly expanding. Hyundai Motor Group operates a Vehicle-to-Home (V2H) service in the U.S. that allows electric vehicle power to be used as emergency backup for homes during natural disasters. In the Netherlands, the company offers a smart charging service (V1G) that automatically adjusts charging times based on electricity rates.
Other automakers are also accelerating their commercialization efforts. In the UK, Nissan is offering V2G services to general consumers, while Volkswagen is pushing for V2G commercialization in Germany. China's BYD is introducing V2G-based electricity rate packages as part of its strategy to enter the energy services market.
On the same day, Hyundai Motor Group announced the launch of the 'AllDayEnergy My Mind Savings' program in partnership with Hana Bank, offering subscribers an annual interest rate of up to 4.5%, discounts on electric vehicle sharing services, and dining coupons to encourage the expansion of V2X services.
A Hyundai Motor Group official stated, 'By operating V2X services under the unified name of AllDayEnergy, we aim to provide customers with a consistent and reliable energy service experience. We will continue to expand various energy services to help global customers utilize their vehicles more economically and efficiently.'
* This article has been translated by AI.
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