Tmap Mobility's eco-route service to minimize emissions

Tmap Mobility Chief Strategy Officer Lee Jae-hwan speaks during a press conference at SK Telecom's press room in Seoul, Monday. Korea Times photo by Park Jae-hyuk

By Park Jae-hyuk

Tmap Mobility, a leading mobility platform, will develop an eco-route planning service allowing electric vehicle (EV) drivers to choose routes that use less energy, the company said Monday.

The announcement was made during a press conference to celebrate the number of Tmap users surpassing 20 million this month, 22 years after the mobile navigation app was launched as Nate Drive 1.0.

“The eco-route planning service will enable a business model of providing solutions to carmakers that want to offer benefits to their customers,” Tmap Mobility Chief Strategy Officer Lee Jae-hwan said. “We are also considering trading carbon credits on the global market by reducing emissions through the service.”

Based on data collected from Tmap users and detailed maps including gradients, the SK Telecom subsidiary expects its new service to help drivers minimize their carbon emissions. Once the service takes root among EV drivers, Tmap Mobility will develop a similar service for drivers of internal combustion engine vehicles (ICEVs).

“If ICEV drivers begin to use the service, we will be able to contribute more to reducing carbon emissions,” said Choi In-jun, head of Tmap Mobility's map content team.

During the press conference, the company also expressed confidence that it will be able to turn a profit before it goes public in 2025.

“Our initial public offering will be done in 2025 as planned, and we aim to make profits in terms of earnings before interest, tax, depreciation and amortization (EBITDA) by 2024 at the earliest,” Lee said. “Our year-on-year sales growth tripled last year, and our operating loss has been shrinking more rapidly.”

Tmap Mobility also plans to integrate its various mobility services into a single app, with the aim of leading markets into future mobility services such as autonomous driving and urban air mobility.