Korean Government Approved of a Regulatory Sandbox for Upcycling Used EV Batteries to Make Portable Power Station
Goodbyecar Corporation (GBC) specializes in upcycling electric vehicles (EV) and made it public that it got official approval from the regulatory sandbox program from the Korean Ministry of Trade, Industry and Energy on October 19, which enables Goodbyecar to manufacture portable power stations, BASTRO, with used EV batteries owned by the Korean government. BASTRO will be the first mass-produced portable power stations with upcycled EV batteries in the world.
SEATTLE, November 1, 2020 (Newswire.com) - In Korea, a regulatory sandbox program is a measure to encourage local companies to foster technology-driven new businesses by lifting or suspending existing regulations for a certain period of time. When Korean drivers of subsidized EVs scrap their cars, they have had to return used batteries to the municipalities they received subsidies since December 2018. However, those returned batteries have been kept in warehouses, as Korea lacked guidelines on how to assess the value of the used batteries and safety standards for them.
Goodbyecar will purchase used the lithium-ion batteries of Hyundai Konas, Kia Niros, and Hyundai Porter IIs from the Korean government and disassemble them in small capacity so as to make 1,000 units of portable power stations annually for two years. All related activities shall be reported to the Korean government, and a new standard to verity the status and safety of used EV batteries will be made accordingly.
Goodbyecar's portable power stations, with its own brand, BASTRO, has a 2,000wh capacity, but its weight is only 30 lb. It is assessed to be the smallest and the lightest among all 2,000wh-capacity power stations in both Korea and the USA.
Mr. Junhee Nam, CEO of Goodbyecar Corporation, says that thanks to their excellent performance, Korean lithium-ion batteries have won the first market share globally this year, and Korean batteries are the key to making BASTRO the best product. He expects this regulatory sandbox grant will strongly get BASTRO to become a market leader in EV battery upcycled products and a very effective method to reduce emissions of greenhouse gases in outdoor camping or other leisure activities.
Source: Goodbyecar Corporation (GBC)