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  • Hyundai Motor Group and Grab Expand Partnership to Accelerate Electric Vehicle (EV) Adoption in South East Asia
  • Both sides plan to launch new EV business models, including battery-as-a-service and EV financing to drive EV adoption
  • Lowering Total Cost of Ownership and Reducing Range Anxiety Key to Greater Electric Vehicle Adoption
  • Strengthened partnership to also explore collaboration in new business opportunities and technologies such as smart city solutions

SINGAPORE and SEOUL, South Korea, June 22, 2021 / PRNewswire / – Hyundai Motor Group and Grab Holdings Inc. (Grab) today announced an enhancement of their ongoing strategic partnership in mobility services. The next phase of the partnership will focus on accelerating the adoption of electric vehicles in South East Asia. The Group, including Hyundai Motor Company and Kia Corporation which are subsidiaries of the Group, and Grab will further develop new drivers and initiatives that will lower barriers to entry for Grab drivers and delivery partners to adopt electric vehicles. , like lowering the total cost of ownership and reducing reach anxiety.

Survey results of the first EV pilot project in Singapore found that high costs, lack of charging points and long waiting times for charging are the main obstacles preventing Grab’s driver-partners from adopting electric vehicles[1]. Therefore, the enhanced partnership will focus on removing some of these barriers by piloting new EV business models such as renting EVs with a battery-as-a-service model or a car-as-a-service model, and the financing of VE. The two sides will also develop a common roadmap for electric vehicles to accelerate adoption in South East Asia. The pilot programs will start in 2021, from Singapore, and extend to Indonesia and Vietnam.

As part of the development of the roadmap, the two parties will also conduct an EV feasibility study. The goal is to better understand the gaps and barriers to wider ownership and adoption of electric vehicles, and then translate the study findings into practical ways to further develop the electric vehicle ecosystem. This information will provide governments and ecosystem partners with ideas and best practices on how EV policies can be shaped to better meet the daily operational routines of drivers and delivery partners. This comes at a critical time as logistics and last mile deliveries continue to experience unprecedented growth, and electric vehicles can play a huge role in reducing vehicle carbon emissions.

In addition, in line with Hyundai Motor Group’s latest future strategy, the two sides will explore collaboration in new business opportunities and technologies such as smart city solutions.

Since announcing the initial partnership in 2018, the two sides have launched a series of EV pilots in South East Asia, starting with Singapore in 2019 and Indonesia in 2020. Pilots saw the deployment of 200 Hyundai Kona electric vehicles in Grab’s GrabRentals fleet in Singapore, which regularly records a high utilization rate. Custom maintenance packages and incentives have also been rolled out to support Grab driver-partners who lease Hyundai electric vehicles. In Indonesia, Grab launched its GrabCar Elektrik fleet of Hyundai IONIQ vehicles at Jakarta Soekarno-Hatta Airport.

“Hyundai Motor Group and Grab were able to discover the possibility for electric vehicle companies to South East Asia through our cooperation from 2018 ”, declared Minsung kim, vice-president of the innovation division of the Hyundai Motor group. “With Grab having the largest driver network in the region and complete mobility solutions from Hyundai, we are confident that together we can help increase the adoption of electric vehicles and ultimately reduce the costs of electric vehicles. carbon emissions across the region. Beyond its current projects, the Group expects the additional cooperation with Grab to be a key driver in leading the mobility market of the future by South East Asia. “

Russell cohen, Group Chief Operating Officer, Grab, said: “While electric vehicles are relatively South East Asia, Grab plans to play a critical role in working with partners and governments to accelerate the adoption of electric vehicles. As government policies and incentives for electric vehicles are implemented and critical infrastructure such as charging stations continue to be built, this partnership will provide information and best practices on the use of electric vehicles. electric vehicles as part of the daily operations of drivers and delivery partners. For example, we tested ways to reduce partner driver downtime by allowing them to swap their electric moped batteries at GrabKitchen while they wait to pick up food orders. The successful adoption of electric vehicles is a multi-stakeholder effort, especially in South East Asia, and we will continue to leverage our technological and operational leadership to build a fleet for the future.

Hyundai Motor Group has expanded its presence in South East Asia promote new innovations in terms of mobility. The Group organized a virtual inauguration ceremony of HMGICS (Hyundai Motor Group Innovation Center in Singapore) in October of last year and construction is underway. The center will serve as a test bed for a human-centric smart manufacturing platform with a small-scale electric vehicle production facility on site. The center will also explore new business concepts, including BaaS (battery as a service) to improve the customer experience of owning electric vehicles.

The Hyundai partnership is one of a range of ongoing electric vehicle initiatives from Grab to support governments’ electric vehicle goals in South East Asia. In Singapore, Grab has a partnership with SP Group, the largest public electricity and gas distributor in the country. Grab leveraged driving data from this partnership to advise on ideal charging locations, based on driver locations and on-demand heat maps. In Indonesia, Grab launched the Electric Vehicle Ecosystem Roadmap in 2019 with the Indonesia government to support policies on electric vehicles and help meet the government’s target of 20% of Indonesian transport being electric vehicles by 2025.

About the Hyundai Motor Group
Hyundai Motor Group is a global company that has created a value chain based on mobility, steel and construction, as well as logistics, finance, IT and services.
With around 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia and Genesis.
Armed with creative thinking, cooperative communication and the will to meet any challenge, we strive to create a better future for all.

For more information on Hyundai Motor Group, please see: www.hyundaimotorgroup.com

You can find more information about Hyundai Motor and its products at: global.hyundai.com or globalpr.hyundai.com

Visit the Kia Global Media Center for more information: www.kianewscenter.com

For more information on Genesis and its new definition of luxury, please visit https://www.genesis.com

About Grab
Grab is the leading platform for superapplications in South East Asia, providing everyday services that matter to consumers. Today, the Grab app has been downloaded to millions of mobile devices, giving users access to over nine million drivers, traders and agents. Grab offers a wide range of on-demand services in the region, including mobility, food, parcel and grocery delivery, mobile payments and financial services in 428 cities in eight countries.
(www.grab.com)

Warning: Hyundai Motor Group believes the information in this document to be accurate at the time of publication. However, the company may download new or updated information as necessary and assumes that it is not responsible for the accuracy of the information interpreted and used by the reader.

[1] Based on a survey of driver-partners who rent vehicles from GrabRentals in 2020

SOURCE Hyundai Motor Group

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