Hyundai and Hanwha Q CELLS to launch second life JV

Hyundai Motor Group which is the owner of both the Hyundai and Kia brands has signed an MOU with the solar cell manfucturer Hanwha Q Cells, one of the world's leading solar energy companies, to develop energy storage systems based on used EV batteries.

The companies will jointly develop ESS products to be used at home and large-scale power infrastructure, and Hanwha Q CELLS’ German research center will conduct a demonstration project by in the company's solar power plants.

Previously Hyundai has teamed up on the second life side with Wärtsilä (Greensmith). The company has a clear strategy in second life.