The Korea Times
Hyundai Motor Group said Tuesday that it will begin a pilot program letting customers pay separately for electric vehicle (EV) batteries rather than buying them with the car, an effort to reduce the upfront cost of owning an EV. Hyundai Motor and Hyundai Capital will jointly run the pilot in the first half of this year, targeting corporate taxi operators whose battery warranties have expired. The program is made possible by a special regulatory exemption approved by the Ministry of Land, Infrastructure and Transport in November, allowing electric vehicle bodies and batteries to be registered under separate ownership for the first time. Under current vehicle regulations, batteries cannot be registered or managed separately from the vehicle. That has been cited as a drag on EV demand, since battery degradation can reduce resale values and leave owners responsible for costly replacements. The pilot program will cover five Ioniq 5 fleet taxis operating in the Seoul metropolitan area. Participating operators will pay a monthly subscription fee to Hyundai Capital and, when a battery needs rep
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