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Hyundai Partners with Wartsila on Storage Battery Business
Hyundai Motor Co. and Helsinki-based Wartsila Corp. have formed a strategic partnership to develop stationary energy storage products that employ recycled batteries from electric cars.
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Hyundai Motor Co. and Helsinki-based Wartsila Corp. have formed a strategic partnership to develop stationary energy storage products that employ recycled batteries from electric cars.
Hyundai expects to begin developing storage battery systems for industrial use in 2021, The Korea Herald reports. The move is in anticipation of a sharp upswing in global EV sales, and with it a surge in serviceable batteries that are no longer suited for mobile use.
Bloomberg New Energy Finance has estimated that total reusable battery capacity in 2016 was 0.1 gigawatt-hours. The research group expects that volume will soar to 29 GWh by 2025, including 10 GWh used in energy storage systems.
Wartsila manages facilities that produce 67 gigawatts of power per year. Last year the company acquired Herndon, Va.-based GreenSmith Energy Management Systems Inc., which supplies roughly 30% of the energy storage system market in the U.S.
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