Hyundai Motor Group to pilot EV battery subscription service for corporate taxis

Hyundai Motor Group will begin testing a subscription model that separates electric vehicle batteries from vehicle ownership.

The group said on April 28 that Hyundai Motor and Hyundai Capital will launch a pilot battery subscription service for corporate taxis in the first half of this year. The pilot will target five IONIQ 5 corporate taxis in the Seoul metropolitan area whose battery warranty periods have expired.

Under the program, participating vehicles will use batteries through a monthly subscription fee instead of purchasing them outright. When battery replacement is needed, the existing battery will be returned and another battery will be supplied.