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Hyundai Motor Group to Introduce Global Vehicle-to-Everything Service

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Hyundai Motor Group, the parent of Hyundai Motor (KRX:005380) and Kia (KRX:000270), introduced an integrated vehicle-to-everything (V2X) service called AllDayEnergy around the world, which would allow electric vehicles to double as mobile energy sources.

The automotive group will work with Hana Financial Group (KRX:086790) subsidiary Hana Bank to introduce "AllDayEnergy My Heart Savings Account," Hyundai Motor Group said in a Tuesday release.

V2X allows two-way power flow between electric vehicle batteries and the grid, enabling users to lower charging costs and generate revenue. The service stores electricity during off-peak hours and supplies it when the requirement is higher, it said.

Shares of Hyundai Motor jumped over 6% while those of Kia added over 2% at market close.

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