Hyundai Motor Group is shifting gears in its strategy for electric vehicle (EV) charging, planning to build its own high-speed DC chargers rather than relying solely on external vendors. Hyundai Kefico Corp., a subsidiary mainly focused on engine and transmission components, is on the cusp of rolling out its Blue Plug-branded chargers capable of delivering a staggering 350 kilowatts.
Hyundai is ending a year-long partnership with Daeyoung Chaevi, which operated Chargers
Initially, these in-house chargers will power the E-pit ultra-fast charging network in South Korea. Launched in April 2021, the E-pit network is still in its infancy, featuring 36 stations, a modest number when compared to Tesla’s 106 Supercharging sites in the country. One obstacle to E-pit’s expansion has been the substantial cost of procuring chargers from third-party suppliers.
Hyundai is aiming to eliminate this bottleneck by making its own chargers. Industry estimates suggest an average cost of $113,000 for an individual fast charger, a figure that Hyundai hopes to slash by controlling the entire manufacturing process. While the brand has not confirmed if these chargers will be exported, it’s clear that this move aligns Hyundai with Tesla’s successful strategy of in-house charger production.
While this pivot makes sense for Hyundai, it spells potential trouble for existing E-pit suppliers like SK Signet and EVSIS Co. It also hints at deeper shifts within the company’s electrification strategy, especially considering the recent end of a year-long partnership with Daeyoung Chaevi, which operated E-pit systems and chargers.
Ultimately, the decision to go in-house with charger production could be a game-changer for Hyundai, helping it to quickly ramp up its E-pit network and be more competitive in the EV space. With existing expertise in power electronics, Hyundai is well-equipped to venture into this territory and possibly shift the balance of power in the South Korean EV market.
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(Via)
