HD Hyundai Oilbank debuts in EV lubricant market

South Korean oil company HD Hyundai Oilbank, under the leadership of CEO Joo Young-min, has made a significant entry into the electric vehicle (EV) lubricant market with the launch of its brand, ‘Hyundai XTeer EVF (Electric Vehicle Fluid)’.

The newly released Hyundai XTeer EVF line includes two types of products. The ‘Top-Tier’ lubricant is designed for universal application across all domestic and international electric vehicles, while the ‘Mid-Tier’ variant caters specifically to certain models, including Tesla. These products are tailored to meet the diverse specifications of various electric vehicle types, showcasing HD Hyundai Oilbank’s commitment to versatility and innovation.

Specialized lubricants for EVs

Diverging from traditional internal combustion engine (ICE) lubricants, the Hyundai XTeer EVF lubricants are specialised for electric vehicles. Their primary functions include cooling and enhancing the efficiency of secondary batteries. These lubricants are crucial for rapidly cooling the electric motor and gears of EVs and act as insulators to prevent unnecessary electricity flow within the vehicle, making them indispensable for optimal EV performance.

A manufacturer of Group II base oils in South Korea, in joint venture with Shell, Hyundai Oilbank said that its Hyundai XTeer EVF products stand out for their adoption of eco-friendly base oils and electric vehicle-specific additive technology. These innovations not only increase anti-oxidation properties but also contribute to carbon reduction, aligning with global environmental sustainability goals, the company said.

Cho Hwi-jun, head of the lubricant business division at HD Hyundai Oilbank, expressed the company’s ambitious goals for the upcoming year. “Our objective is to gain recognition in challenging overseas markets, such as Europe, through intensive technology development,” he said. Cho emphasised the company’s plans to continually expand the Hyundai XTeer EVF product line and actively pursue exports, particularly targeting the rapidly growing electric vehicle lubricant market.