Staying ahead in a marathon is a challenge, as any long-distance runner will tell you. You set the pace, but you have to look forward and backwards too, unlike your competition. They, on the other hand can relax, study your technique, learn from it, and steal an advantage. Tesla was still ululating about its 100-megawatt battery when Hyundai Electric issued a dramatic press release.
What South Korea’s Hyundai Electric & Energy Systems Said
Hyundai Electric told Irish Independent its 150-megawatt lithium-ion battery will go live in three months. This will be at Ulsan, a South Korean metropolitan city. At 50% more power than Tesla’s, it makes a powerful salute to the home of the Hyundai industrial giant.
Elon Musk set the pace with his South Australia mega power pack. Battery prices are tumbling in the face of scale economics. We cannot believe either company is anywhere near the upper end of the potential. Logically speaking this can only be the beginning of the technology Tesla created.
And That’s Not All Battery Storage Achieved This Year
Bloomberg Energy Finance estimates the total energy value of 2017 lithium-ion storage battery projects is 1,650 megawatts per hour. This puts renewables in serious contention with twin-unit conventional power stations. Are we getting there? You bet we are making progress.
Take Hyundai Electric & Energy Systems for example. It is seriously into ship automation, energy storage systems, and building and factory managements systems. It has traded for 40 years, and has 3,600 unique global customers. Hyundai Electric & Energy Systems also enjoys the support of the Hyundai global network making it financially robust.
Has Tesla overplayed Its Hand, Perhaps Not …
Bloomberg New Energy Finance believes, “Musk has set a benchmark on how quickly you can install and commission a battery of this [100-megawatt] size.” However, falling battery costs from economies of scale that Tesla generated are making the market more accessible.
Elon Musk’s nimbleness has won him customers. We shall have to see how well he stands up against a determined challenge from the likes of Hyundai, as the Asian economy discovers new muscles. The race is to the determined, but not always to the swift.
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Preview Image: Early Morning Marathon
