22:59 29-04-2026
Hyundai launches pilot EV battery subscription program in South Korea
Hyundai pilot project introduces EV battery subscription, reducing upfront costs and covering replacement. Taxis in Seoul are the first participants.
Hyundai has launched a pilot project in South Korea for a subscription-based electric vehicle battery program. Under this system, the battery is no longer included in the car’s purchase price but is paid for separately via a monthly fee.
The project is a joint effort with Hyundai Capital and was made possible by special government approval that allows the ownership of the car and its battery to be split. Previously, this was prohibited under existing regulations.
The initial phase involves five Hyundai Ioniq 5 taxis operating in the Seoul area. The operators pay a monthly subscription fee, and when the battery degrades, they receive a replacement belonging to the company’s financial division.
According to Hyundai, this approach reduces the upfront cost of an electric vehicle and mitigates risks associated with battery degradation and replacement expenses. The high mileage of taxis makes them a convenient testbed for the model.
The plan is to expand the project to private customers in the second half of the year. At the same time, the company is testing a rapid battery-swapping system that can change the battery in about 10 minutes. With growing interest in EVs, such solutions could simplify ownership and make electric cars more accessible.