Hyundai Motor Group is changing its approach for charging electric vehicles (EVs). Instead of relying only on outside vendors, it plans to build its own high-speed DC chargers.
Hyundai Kefico Corp., a company that mostly makes parts for engines and transmissions, is about to start selling 350-kilowatt chargers with the brand name “Blue Plug”.
At first, these chargers will be used to power the ultra-fast charging network in South Korea called E-pit. The E-pit network just started in April 2021.
It only has 36 stations, which is a small number compared to Tesla’s 106 Supercharging sites across the country. One thing that has stopped E-pit from growing is the high cost of buying chargers from third-party providers.
By making its own charges, Hyundai hopes to get rid of this problem. The average cost of a fast charger, according to estimates from the industry, is $113,000.
Hyundai wants to lower this cost by taking charge of the whole manufacturing process. Even though the company hasn’t said whether or not these chargers will be exported, it’s clear that this move is in line with Tesla’s successful plan of making chargers in-house.
READ: Tesla’s V4 Supercharger Coming to the UK Soon
This change makes sense for Hyundai, but it could be bad news for companies like SK Signet and EVSIS Co. that already make E-pits. It also seems to point to deeper changes in the company’s electric policy, especially since its partnership with Daeyoung Chaevi, which ran E-pit systems and chargers, just ended after a year.
In the end, Hyundai’s choice to make its own chargers could be a game-changer. It could help the company quickly expand its E-pit network and be more competitive in the EV market. Hyundai already knows a lot about power technology, so it is well-equipped to move into this area and possibly change the power balance in the South Korean EV market.
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