Hyundai CRADLE and itselectric Partner to Deploy Curbside Chargers for Electric Vehicles in New York City

• This will be itselectric's first pilot, in partnership with the New York City Economic Development Corporation (NYCEDC) and Steiner Studios, with support from Hyundai Motor North America
• Six chargers have been deployed at the Brooklyn Army Terminal and the Brooklyn Navy Yard in Spring 2023

NEW YORK, April 18, 2023 /PRNewswire/ -- itselectric, a Brooklyn-based electric vehicle curbside charging company, today announced a strategic partnership with Hyundai CRADLE and New York City Economic Development Corporation to demonstrate curbside EV charging specifically built for cities. The EV chargers will be the first compact, durable, and user-friendly charge post featuring a fully detachable charging cord in North America - making it suitable and ideal for urban city use.

itselectric is the only charging network that offers revenue sharing for residential property owners. This model enables property owners to be part of the EV transition through positive incentives that will help make this solution easier to adopt in markets around the country. The pilot program will be itselectric's largest public demonstration of its charging network, which is designed to help cities meet their carbon reduction targets and reduce capital expenditure by completely avoiding the infrastructure upgrades normally needed to support on-street charging. This technology brings EV charging to new urban neighborhoods, which enables more people to make the switch to electric vehicles and aligns with Hyundai's objective of democratizing electric vehicle technology.

The pilot is a result of itselectric being named as a finalist in Hyundai CRADLE's EV Open Innovation Challenge. Finalists were selected based on their potential to expand market access to electric vehicles and improve customer charging experiences using innovative technology and business models as evaluated by Hyundai CRADLE with support from Hyundai Motor North America.

"The team at Hyundai has been incredibly supportive and we could not have envisioned a better place than Brooklyn, where it all began, to put our first chargers into the ground," said Nathan King, CEO & Co-Founder of itselectric. "The United States has high goals for electric vehicle adoption, but the country is not currently prepared for what this means in terms of accessible charging. Our technology is specifically built for cities to ensure that every community - no matter the median income or prevalence of driveways and garages - has access to clean transportation."

This initial limited pilot program will see six charging posts deployed across 2 locations: The Brooklyn Army Terminal and Steiner Studios starting in spring 2023. For two months, all six charging posts will be user-tested by publicly recruited EV drivers local to the area, allowing drivers to validate and inform a for-market product. All six posts will remain operational for an additional four months following the initial pilot.

"Hyundai CRADLE Silicon Valley is excited to be launching this pilot program in collaboration with HMNA and itselectric," said Henry Chung, Senior Vice President, Head of Hyundai CRADLE Silicon Valley. "Curbside charging is an important part of the EV charging ecosystem that can provide access for those who rely on public charging, and we look forward to exploring this opportunity."

"Expanding access to EV charging and accelerating the transition to zero-emission vehicles for everyone, regardless of the kind of home or neighborhood in which they live is part of our mission, 'progress for humanity," added Olabisi Boyle, Vice President, Product Planning and Mobility Strategy, Hyundai Motor North America. "itselectric's modular AC charging solution brings low-cost, revenue-generating infrastructure to traditionally underserved urban communities around the country. Hyundai is dedicated to a greener future and our partnership with itselectric will help us achieve our goal of carbon neutrality by 2045."

"NYCEDC is excited to welcome itselectric to the Brooklyn Army Terminal to pilot their state-of-the-art curbside electric vehicle chargers," said NYCEDC President and CEO Andrew Kimball. "Promoting and expanding access to EV charging infrastructure is the key to encouraging New Yorkers to invest in electric vehicles and creating a cleaner, more sustainable future for New York City."

"We're thrilled to bring itselectric charging stations to Steiner Studios," said Doug Steiner, Chairman, Steiner Studios. "We, and our film and television production clients, want to do our part for a greener future. It's an honor to kick off these efforts by collaborating with itselectric, Hyundai, and NYCEDC."

To learn more about itselectric and join its waitlist as a property owner, EV driver, or aspiring EV driver, please visit itselectric.us.

About itselectric
Millions of drivers park their cars on the street and cannot transition to electric vehicles without convenient and affordable on-street charging infrastructure. itselectric is accelerating the rate of adoption of EVs by providing communities with scalable and simple curbside EV charging that seamlessly integrates into their neighborhoods. itselectric's solution ensures that every community - no matter the median income or prevalence of driveways and garages - has access to clean transportation

itselectric's "behind the meter" approach results in zero impact on municipal budgets. They partner with cities across the U.S. to install, operate and maintain chargers at no cost to the city or to the host property owner - all while allowing property owners to earn passive income every month. To learn more, please visit itselectric.us.

About Hyundai CRADLE
Hyundai CRADLE works around the globe as an open innovation hub for Hyundai Motor Group, partnering with and investing in global startups to accelerate the development of advanced automotive technologies. CRADLE collaborates with universities, investment companies, venture capitalists, and numerous research groups.

About Hyundai Motor America
Hyundai Motor America focuses on 'Progress for Humanity' and smart mobility solutions. Hyundai offers U.S. consumers a technology-rich lineup of cars, SUVs, and electrified vehicles. Our 830 dealers sold more than 724,000 vehicles in the U.S. in 2022, and nearly half were built at Hyundai Motor Manufacturing Alabama. For more information, visit www.HyundaiNews.com.

About New York City Economic Development Corporation
New York City Economic Development Corporation is a mission-driven, nonprofit organization that creates shared prosperity across New York City by strengthening neighborhoods and creating good jobs. We work with and for communities to bring emerging industries to New York City; develop spaces and facilities for businesses; empower New Yorkers through training and skill-building; and invest in sustainable and innovative projects that make the city a great place to live and work. To learn more about what we do, visit us on Facebook, Twitter, LinkedIn, and Instagram.

About Steiner Studios
Led by Doug Steiner, Steiner NYC and its predecessor companies have been builders and developers for over 100 years. Steiner has developed, constructed, leased and managed over 10 million square feet of real estate in fifteen states. Notable projects include Steiner Studios, comprised of 900,000 square feet of film and television production facilities on 50 acres inside the historic Brooklyn Navy Yard, and "Hub," a 750-unit, 56-story, mixed-income rental tower in the Boerum Hill neighborhood of Brooklyn. Steiner is currently developing Steiner Sequel, an 800,000-square-foot, state-of-the-art film and television production studio in Sunset Park, Brooklyn.

SOURCE itselectric