South Korea's Hyundai Motor Group is planning to pilot a battery subscription model for electric taxis. The project will use five Hyundai IONIQ 5 models, with the battery being sold separately from the vehicle.
Under the program, drivers or companies will own the vehicle, while the battery will be managed by Hyundai Capital. The goal is to reduce the initial cost of electric vehicles.
The company said that last year, the Kia EV6 model used for corporate taxis cost about $13,000 without a battery, with a monthly battery fee of $950.
However, it is still questionable whether the model will be more profitable in terms of total costs than a full purchase.
