Hyundai Motor Group said on the 28th that it will unveil, for the first time in Korea, vehicle-to-grid (V2G) technology that uses electric-vehicle batteries as a power resource.
Hyundai Motor Group will begin recruiting customers to participate in the service in early December and will launch a V2G pilot service in Jeju at the end of December. This is part of a memorandum of understanding signed with Jeju in September for building a green hydrogen and distributed energy ecosystem.
V2G is a technology that not only charges electric-vehicle batteries through a dedicated bidirectional charger but also supplies power from the electric vehicle to the grid, using the vehicle as an energy storage system. Based on mutual communication among the electric vehicle, charger, and power grid, it determines the optimal timing and amount for charging and discharging by considering power supply and demand conditions and electricity prices.
In particular, during times when power demand is relatively low and prices are cheap, vehicles charge, and during times when demand and prices are high, the remaining power in the electric vehicle is discharged from the vehicle to the grid. Hyundai Motor and Kia will handle business operations and V2G technology verification, Hyundai Engineering will develop charging service analysis and advancement plans, and Korea Electric Power Corporation will be in charge of linking electric vehicles with the distribution network.
Hyundai Motor Group expects that, if this V2G pilot service is commercialized, it will help stabilize the grid by adjusting imbalances in power supply and demand. Given Jeju's characteristics of a high share of wind and solar generation, electric vehicles can absorb surplus power oversupplied during the day and supply it back to the grid at night, increasing both the utilization and the economics of renewable energy.
Hyundai Motor Group will recruit participants among owners of the Ioniq 9 or EV9 who can install chargers at home or work. It will also launch full V2G service in Europe, with plans to commercialize V2G for local Ioniq 9 and EV9 owners in the Netherlands starting at the end of December this year, the first among automakers there.
Meanwhile, Hyundai Motor Group is providing vehicle-to-home (V2H) service in the United States, supplying household power by using electric-vehicle electricity as emergency power in natural disasters such as large wildfires.
Jeong Ho-geun, executive vice president of Hyundai Motor Group's Future Strategy Office, said, "This domestic and overseas V2G service will help strengthen Hyundai Motor Group's electric-vehicle competitiveness and serve as a primer for leading the eco-friendly mobility market and the future energy market."