SK On announced on April 28 that it is partnering with an expert organization to lead the standardization of used EV batteries by establishing a standard for evaluating their performance and residual values.
The company’s plan is to provide accurate measurements of the life and condition of batteries, which account for 40% of the price of an EV, to offer accurate information to consumers and to increase technology residual value assessment to promote a virtuous cycle of battery resources.
SK We signed a “Business Agreement on Establishing Standards for Electric Vehicle Battery Condition and Evaluation” with Korea Automobile Inspection and Warranty Association (hereinafter, KAIWA) at SK Building in Jongno-gu, Seoul on April 28.
Jeong Woo-seong, Head of e-Mobility Business Office, SK On, and Jeong Wook, President of KAIWA, attended the event.
Both parties have agreed to establish valuation standards and performance diagnostic methods for calculating the residual value of EV batteries. Both parties are expected to boost the used electric vehicle market through this agreement and provide accurate valuations to improve market transparency.
SK On will provide the association with advice on measuring and diagnosing battery performance based on its independently developed artificial intelligence algorithm, known as Battery as a Service Artificial Intelligence (BaaS AI), which diagnoses battery status. The company plans to actively use its analytical skills and the large amount of data that has been accumulated through cooperation with other companies in the electric vehicle industry.
SK On already has projects underway with used car trading companies, K Car and AUTOHUB SELLCAR, a car rental company, SK Rent-a-car, and an electric vehicle charging platform, EV Infra , and more.
SK On is currently developing battery life measurement technology that used car dealers will be able to start using from the second half of this year. It is considered an optimal technology for the used car trade because it can quickly and accurately assess the remaining battery life.
SK On made the decision to sign this trade agreement with the association because it recognized that there was still a lack of a reliable and reputable rating standard for EV batteries despite the rapid growth of the EV market. A standard for used car performance inspections is currently based on that for internal combustion engine (ICE) vehicles. This means that the traditional inspection standard is not suitable for used electric vehicles.
The Korea Automobile Inspection and Warranty Association is an organization established under the Ministry of Land, Infrastructure and Transportation (MOLIT) with the aim of protecting consumers by inspecting the performance and condition of automotive vehicles. opportunity and by conducting price surveys.
Through this business cooperation, the two sides plan to complete the establishment of the standards for the evaluation and diagnosis of electric vehicles. In the future, KAIWA plans to distribute a diagnostic device for used electric vehicles, prepare a general inspection standard on the performance and condition of electric vehicles, and suggest system adjustment to MOLIT.
“Performance diagnostics and residual value assessments are the starting point for the virtuous cycle of battery resources,” Jeong said. He added, “We will develop various eco-friendly business models while providing convenience to consumers in the future.”
© Korea IT Times 무단전재 및 재배포 금지