Promotional poster for the “AllDayEnergy” savings account launched by Hyundai Motor Group with Hana Bank. Photo courtesy of Hyundai Motor Group
Hyundai Motor Group is launching a global “V2X (Vehicle to Everything)” service that uses electric vehicle (EV) batteries as an energy source.
Hyundai Motor (005380) Group said on the 21st that it has launched “AllDayEnergy,” a global V2X integrated service, and has begun selling the linked “AllDayEnergy Naemam Savings” product from Hana Bank.
V2X is a technology that connects EV batteries and the power grid in both directions to cut charging costs and generate additional revenue. Using this technology, EVs can be charged during hours when electricity prices are low, and later the stored power can be used from the vehicle or sent externally when needed, reducing energy costs.
Hyundai Motor Group has operated the V2X service, which is called a “battery on wheels” and a “mobile energy storage system (ESS),” in various regions. In Korea, it is running a pilot of the “V2G (Vehicle to Grid)” service on Jeju Island, which connects EVs to the power grid to store or, conversely, supply electricity.
In the United States, the group operates a “V2H (Vehicle to Home)” service, which allows EV power to be used as emergency power for homes when natural disasters such as large wildfires strike. In the Netherlands in Europe, along with the V2G service, it has introduced the “V1G (Smart Charging)” service, which intelligently controls EV charging speeds in response to changes in electricity rates.
Based on the technological capabilities and know-how accumulated by operating V2X services on multiple levels in major regions, Hyundai Motor Group plans to consolidate its entire service portfolio under the name AllDayEnergy to provide a consistent experience to global consumers. Starting with the United Kingdom, the group plans to sequentially roll out the AllDayEnergy service in major countries through the vehicle apps of Hyundai Motor Group brands.
In particular, to build an image of a trustworthy V2X service, Hyundai Motor Group is introducing an “AllDayEnergy Naemam Savings” enrollment event in partnership with Hana Bank in Korea. It offers an annual interest rate of up to 4.5% (a base rate of 2.0% per year + a 2.0% preferential rate coupon + 0.5% for automatic transfers) to 5,000 new savings subscribers. The subscription amount is up to 500,000 won per month, with a contract period of six months.
“By operating the V2X service under the single name ‘AllDayEnergy,’ we aim to provide customers with a consistent and reliable energy service experience,” a Hyundai Motor Group official said.