[Infostock Daily= Reporter Park Sang-In] Hyundai Motor Group and Hanwha Qcells will jointly develop solar-linked energy storage devices (ESS) based on electric vehicle reuse batteries.
Hyundai Motor Group and Hanwha Qcells is announced on the 31st that they signed a business agreement for 'joint development and business cooperation of solar ESS' at Hanwha Group in Janggyo-dong, Seoul on the 29th.
The ESS, developed jointly by Hyundai Motor Group and Hanwha Qcells, is a solution that can reuse electric car batteries and lower costs to distribute ESS on a large scale.
The Hyundai Motor Group is expected to secure a market for solar-linked ESS, and Hanwha Qcells is expected to make a leap as a total energy solution company through solar power generation facilities and price-competitive ESS package products.
The two companies signed a joint development agreement (JDA) at the same time as the MOU and will start joint development of solar-linked ESS for home and power in Europe and North America.
Reporter Park Sang-In si2020@infostock.co.kr