Hyundai, Wartsila partner on energy storage

South Korean carmaker Hyundai and Finland's Wartsila have signed a joint agreement aimed at using recycled electric vehicle batteries for energy storage applications.

The move comes at a time of rising investment in electric vehicle manufacturing capacity and concern about the recycling or afterlife of rechargeable car batteries. There are potential restrictions on the supply of key battery components, including cobalt, which is primarily produced in the politically unstable Democratic Republic of Congo. Carmakers have looked to develop new technologies that use less cobalt, recycle the metals used in their batteries or increase revenue by branching out into energy storage products.

Wartsila already operates 67GW of installed power plants and energy storage projects worldwide. Hyundai's products are expected to be used by Wartsila clients and new consumers. The company projects that by 2025 global used EV battery availability will reach 29GWh, up from current estimates of around 10GWh.

Other car manufacturers have worked on similar projects. Germany's BMW has collaborated with energy storage company Vattenfall to build a 22MW facility in Wales, using 500 BMW-manufactured battery packs. In 2017, France's Renault launched a home battery system incorporating used batteries from its Zoe electric model.