Korea: POSCO ICT, Hyundai Motors Cooperate on Eco-friendly Car Charging Infrastructure

OSCO ICT, in cooperation with Hyundai Motor, will begin making full-fledged efforts to construct charging infrastructure for environmentally-friendly vehicles such as plug-in hybrid vehicles and electric vehicles.

The company announced on June 28 that it has signed a memorandum of understanding (MOU) with Hyundai Motor to build eco-friendly car charging infrastructure. Hyundai Motor has green car technologies, and POSCO ICT has practical experiences in the charging infrastructure sector. With the MOU, the two companies plan to form a close partnership in order to take the leading roles in expanding the domestic eco-friendly vehicle market.

There is further significance of the MOU, as charging stations will be established in public facilities such as large discount stores and theaters, which provides people with more access, unlike the existing charging stations installed in public institutions that are less accessible, said the company. Also, Hyundai Motor plans to release its exclusive plug-in hybrid cars in the future, following the new Sonata Plug-in Hybrid next month. It is expected to accelerate the introduction of plug-in hybrid vehicles in the country. Under the agreement, POSCO ICT and Hyundai Motor will build 120 charging stations using Hyundai Motor’s own unique design in large discount stores, department stores, and theaters within this year. Also, POSCO ICT will secure the construction sites, run the stations, and perform maintenance tasks on the stations.

Moreover, POSCO ICT will allow Hyundai Motor’s consumers to use an additional 120 charging stations for more convenience, which are scheduled to be constructed within this year, as well as its 180 stations in Seoul, Gyeonggi Province, Busan, and Jeju Island as the first private operator. Currently, POSCO ICT has already built and is operating 180 charging stations for electric vehicles in Seoul, Gyeonggi Province, Busan, and Jeju Island.

Source: www.businesskorea.co.kr

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