EpicCar's Monthly Average Sales Grow 22% Through Auto Aftermarket Parts Solution... CEO Park Sang-gyun Accelerates Business Expansion
EpicCar provides a solution that increases the use of automotive aftermarket parts, helping cut repair costs and carbon emissions. Over the past year, it has achieved a 22% average monthly sales increase and a 78% success rate in proactive proposals for sales deals.
The global carbon neutrality trend and the economic value of automotive aftermarket parts
As the era of carbon neutrality advances, circular economy models that recycle resources are emerging as a core part of the automotive industry. Using aftermarket parts that are recycled or remanufactured can reduce greenhouse gas emissions by about 50% compared with manufacturing new parts. Reusing the parts for one vehicle is estimated to cut carbon emissions by an average of 8,526 kg. In response, the government is promoting policies to expand certified aftermarket parts in order to ease consumers' repair costs and lower insurance premiums.
EpicCar's B2B solution model and core technology EpicCar is a company focused on increasing the use of automotive aftermarket parts. It currently provides B2B solutions for large fleet operators such as rental car companies, automatically tracking compatible replacement parts after an accident and proposing them along with estimated cost savings. By linking with the Korea Insurance Development Institute system, it checks parts information in preliminary estimates and notifies users whether aftermarket parts can be used. The company is also advancing its service with AI damage analysis technology called Epic Lens, which analyzes repair shop photos and identifies parts that need replacement.
Founding through Hyundai Motor Company’s in-house venture program and building a technological moat Park Sang-gyun spent 14 years at Hyundai Motor Company’s Manufacturing Solutions Division, where he witnessed resource waste during the disposal of test vehicles and began shaping the business idea. Through Hyundai Motor Company’s in-house venture program, he spun off the company with carbon reduction as its key business moat. Under the program, about four to six of roughly 10 teams each year ultimately spin off as independent companies. Through this process, EpicCar refined its business model and developed a cost-saving proactive proposal system based on aftermarket parts.
Rental car repair market share and quantitative growth indicators EpicCar is targeting the rental car accident repair parts market, worth about 190 billion won, as its primary market. Over the past year, it recorded an average monthly sales growth of 22%, and 78% of actual aftermarket parts sales were completed through the system's proactive recommendations. Based on its performance in the rental car market, the company plans to expand into the insurance repair market, which is about 15 times larger. It has set 10 billion won in sales as a near-term goal and is currently raising Pre-A round investment.
Climate tech commercialization with support from the Gyeonggi Center for Creative Economy & Innovation EpicCar expanded its business infrastructure with support from the Gyeonggi Center for Creative Economy & Innovation. It started in a six-person office and later received sequential support for 10-person and 16-person office spaces as it added staff. The company was also selected for the Open Collaboration Program and the Gyeonggi-do Climate Tech Startup Incubation Program, gaining momentum to overcome the valley of death. With this support system, EpicCar aims to grow into a global company leading parts cost reductions and carbon savings in domestic and overseas markets.
This content was prepared by MaeKyung Biz Content Planning Team based on official announcements and press releases.
