Stellantis Korea will return carbon reduction performance as electric vehicle mileage.
Stellantis Korea signed a memorandum of understanding (MOU) on the 27th of last month containing the details of a business agreement on carbon credit projects with Hooxi Partners (representative Lee Haeng-yeol), a carbon credit transaction specialist corporations.
It is introducing a program that converts individual electric vehicle customers' carbon reduction performance into tangible benefits. It is the first in Korea.
This MOU centers on Stellantis Korea receiving delegation to transact carbon credits from its electric vehicle customers (Jeep Avenger, Peugeot e-208 and e-2008) and returning the revenue generated from trading the carbon credits through Hooxi Partners to the customers.
Stellantis Korea will convert the electric vehicle mileage customers have accumulated so far into carbon credits, sell them on consignment, and customers can receive the credits they delegated as coupons, points, or other returns that can be used at Stellantis Korea official service centers for maintenance or parts, or when purchasing lifestyle products.
Hooxi Partners operates the "electric vehicle program and unit reduction project" approved by the Ministry of Land, Infrastructure and Transport, certifies individuals' greenhouse gas reduction performance when they replace internal combustion engine vehicles with electric vehicles, converts that into carbon credits, and provides a specialized solution that trades them with obligated companies. Korea's carbon credit market is expanding with the Korea Emissions Trading Scheme (K-ETS) and the activation of voluntary transactions, and global automakers are also expanding customer benefit models that use carbon credits.
Stellantis Korea representative Bang Sil said, "This MOU is meaningful in that it is the first time a virtuous cycle structure that connects each customer's eco-friendly actions to economic value has been applied to private passenger car customers in Korea," and noted, "We will continue to discover various programs to contribute to creating a sustainable mobility ecosystem while expanding tangible customer benefits."
Detailed system construction and implementation plans for carbon credit rights transfer and benefit return are expected to be developed within 2026, and after the program is finalized, detailed guidance will be provided to electric vehicle customers.
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