Hyundai Motor Group said on the 15th that it will run a pilot vehicle-to-grid (V2G) service in Jeju Island. V2G is a technology that connects an electric vehicle battery to the power grid to enable two-way power exchange. It means using an electric vehicle as a "moving energy storage system (ESS)" that not only charges but also supplies power.
Hyundai Motor Group selected 40 customers of Hyundai Motor Ioniq 9 and Kia EV9 who can install V2G bidirectional chargers at home or at work. The group plans to install the bidirectional chargers free of charge for them and fully cover electric vehicle charging fees during the pilot period.
Hyundai Motor Group further plans to fully implement V2G and transform the energy industry structure from one centered on existing suppliers (power plants) to a region-based, self-sustaining economic model. In the case of Jeju Island, where wind and solar power account for a high share, excess power oversupplied during the day can be stored in electric vehicles and then sent back to the grid at night, maximizing the utilization and economics of renewable energy.
Hyundai Motor Group plans to use the expansion of this pilot service as a springboard to step up efforts with the central government and local governments to build a domestic V2G ecosystem and invigorate the industry.
A Hyundai Motor Group official said, "We expect the V2G pilot service, in which Jeju Island residents who are actual users participate directly, to support the realization of local production and local consumption of energy within Jeju Island," and "Furthermore, it will play an important role in achieving Jeju Island's 2035 carbon-neutral vision."