POSCO ICT has signed a deal with GM, which will soon launch its electric vehicle in Korea, to build an electric vehicle (EV) charging infrastructure.
GM plans to launch its plug-in hybrid car (PHEV) “Bolt” during the second half of this year. PHEV is a hybrid car that runs on an electric motor, which can be recharged by plugging it into an electrical power source. It switches to run on the combustion engine when the batteries are depleted.
As POSCO ICT has been selected as the producer of EV chargers for GM Korea, it plans to provide charging services with public charging stations at 120 key locations. Locations will include after-sales centers, GM sales stores, and big marts.
On top of public stations, it is building home charging stations for drivers of GM’s EV and is also implementing a membership program. Through this program, drivers can use the existing charging stations available at big marts, cinemas, and department stores across the country in addition to newly built stations.
Expansion of the facility to 300 stations to become largest privately-owned infra
Apart from the 120 stations to be built under the deal with GM, POSCO ICT will increase the number of its own stations from 250 to 300 by the end of the year, making it the owner of the largest privately-owned EV charging infra.
It will build and run the infra by targeting the facilities that drivers visit often and spend time at. Drivers will be able to charge their car by driving only 4 to 5 km each time.
The Ministry of Trade, Industry and Energy recently announced that it would build high-speed charging stations, one within each 2-km radius, at key locations such as petrol stations, large supermarkets and parking lots in Seoul and Jeju by the end of this year. A total of 490 charging stations will be established. Since the Ministry will also build a total of 30,000 slow chargers at 4,000 apartment complexes across the country, the spread of electric vehicles in Korea is likely to be accelerated.
The interest in the electric vehicle is increasing due to climate environmental issues and the strive towards energy reduction. POSCO ICT will further expand its cooperation with electric car manufacturers in order to grow the charging infrastructure, no longer hindering the spread of electric vehicles within the country.
Be sure you never miss any of the exciting steel stories from The Steel Wire by subscribing to our blog.