Kia partners with Korean gov't, stakeholders to promote circular economy for EV batteries

MANILA: Kia Corporation inked a memorandum of understanding (MOU) with Korean stakeholders to foster a circular economy in the electric vehicle (EV) battery industry.

With the MOU, Kia aims to establish a sustainable value chain across the entire EV battery market and launch a pilot project in collaboration with the Korean government and companies specializing in battery disassembly and raw material extraction.

Kia will supervise the pilot project and supply the used batteries.

This public-private collaboration aims to create a cooperative system among the government of South Korea, automakers, battery recycling companies, and second-life battery material manufacturers.

The pilot project will be Kia's basis on the circular ecosystem that it will establish for EV batteries. The carmaker also aims to pioneer the commercialization of Battery as a Service (BaaS) by providing battery subscription and battery remanufacturing services.

"The collaboration is crucial to evaluate the economic feasibility of EV batteries as the number of EVs continue to rise," Kia stated in a press release.

According to Kia, the results and data collected from the pilot project will be used to create new business opportunities and develop a sustainable industrial ecosystem.

Photos from Kia Corporation

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