Government and industry unite to drive growth in the EV battery service sector
Electric vehicle (EV) battery services cover the entire lifecycle of a battery, from installation to recycling, generating added value through charging, maintenance, and more. As the global adoption of EVs increases, this emerging industry is gaining attention. Reflecting this potential, on June 18th, South Korea's ministries responsible for trade, transportation, and the environment co-hosted a meeting to promote the EV battery service industry.
At the meeting, the industry presented eight promising service models that it had selected. These include subscription services and financial services aimed at reducing the cost burden of purchasing electric vehicles, performance diagnostic services designed to extend the life and safety of batteries, and services that generate additional revenue through carbon credit trading and power trading using EV batteries.
A "Public-Private Joint Consultative Body" involving three government ministries—Industry, Land, and Environment—and industry stakeholders has been officially launched. This collaboration aims to continuously foster and develop the electric vehicle (EV) battery service industry, including the advancement of the eight promising models previously outlined.
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