Pitin seeks 12 billion won investment to expand EV battery swap hubs

The company emphasized business scalability confirmed through actual customers and revenue rather than just technological potential. By securing corporate and individual taxi customers at the first Anyang station, the company verified a structure that generates recurring revenue through battery swap subscriptions and membership charging.

For investors, the company explained an operating model that satisfies the demand for charging, battery management, and vehicle maintenance in a single location. It also presented the ability to expand hubs nationwide through AI and robot automation and standardized construction methods. The focus was on communicating that the business is an integrated infrastructure platform for the energy supply and maintenance of commercial electric vehicles, rather than being limited to battery swapping.

The funds will be used for station expansion, automation, and the development of energy management technology. Based on the operating experience of the first Anyang station, the company will build the second Incheon station and secure additional hubs in the metropolitan area. New facilities are planned to provide battery swap subscriptions, membership charging, battery management, and vehicle maintenance together. In this process, the company will also pursue cooperation models that utilize corporate taxi garages and existing energy facility sites.

As hubs expand, the company plans to increase the level of automation for battery swap robots and optimize charging schedules and facility operations using AI. Through this, it aims to reduce operating costs and establish a system for the integrated management of multiple stations. In the field of energy management, the company intends to develop S2G technology using 3 billion won in government R&D funds secured through its selection for Scale-up TIPS in 2026. The goal is to link stations with the power grid to reduce peak power demand and energy costs.

While performing automotive R&D for approximately 15 years at the Hyundai Motor Company Namyang Research Center, it was determined that not only vehicle technology but also an environment that allows for the economical operation of electric vehicles is important. In particular, while taxis and freight trucks have long driving distances and thus high potential for reducing energy costs through the transition to electric vehicles, many hesitate to switch due to the burden of operational losses caused by charging time, battery life, and vehicle residual value.

The short-term goal is to establish the second station in Incheon and expand hubs to the Seoul metropolitan area. They plan to standardize design and construction methods and increase operational efficiency through AI and robot automation. They are also pursuing an expansion model that secures customer demand by cooperating with corporate taxi companies and logistics companies, and utilizing existing garages and idle land.

From 2029, they plan to full-scale the business of converting LPG charging stations into energy stations dedicated to commercial electric vehicles. This is to reduce the burden of securing new sites by utilizing existing facilities that have vehicle accessibility and energy supply foundations. They plan to expand the supply chain not only through directly managed stores but also through franchise and partnership methods.

In the long term, the goal is to build a nationwide network that provides energy supply along with battery and vehicle management. By combining AI, robotics, and S2G technology, they aim to possess grid efficiency functions and grow into an infrastructure provider that supports the charging and maintenance of autonomous taxis and logistics vehicles.

It is necessary to prioritize solving the problems customers face rather than the perfection of technology. Especially in the deep tech field, a lot of time and resources are invested in research and development, but business sustainability cannot be secured through technological prowess alone. You must verify whether the service is necessary enough for customers to pay for it and whether you can generate profit while providing it.

Pitin has also been modifying its business model while directly operating stations and meeting users. Customer feedback and operational data obtained in the field became the basis for determining the direction of development. In the process of experiencing difficulties, they also learned the importance of colleagues and partners who solve problems and execute together.

In other words, rather than spending time preparing perfect technology or plans, a process of verifying in the field and supplementing through failure is necessary. The standard for judging the sustainability of a business is the value that customers recognize and pay for.