Hyundai Motor Group's executive chair, Euisun Chung, hinted at the possibility of collaboration with Toyota Motor Corp. in the realm of hydrogen-powered mobility during a meeting at the 2024 World Rally Championship held at Toyota Stadium in Aichi Prefecture, Japan. Chung mentioned that Hyundai and Toyota are in discussions regarding hydrogen collaboration, marking the first time he has publicly addressed the topic. The potential collaboration between the two automakers originally surfaced after a meeting between Chung and Toyota Chairman Akio Toyoda at a racing event in South Korea. Hyundai has a strong foothold in the hydrogen sector, with models like the Nexo, a passenger hydrogen fuel cell electric vehicle, competing with Toyota's Mirai in the global market. The company recently unveiled a new hydrogen fuel cell electric vehicle concept named the Initium. Hyundai's venture into hydrogen began in 1998 with the establishment of a dedicated hydrogen research organization, leading to the introduction of their first hydrogen vehicle in partnership with US fuel cell company UTC Power in 2000. At the 2024 WRC event, Hyundai's team driver, Thierry Neuville, secured the drivers' championship, while Toyota claimed the manufacturers' championship. Chung expressed pride in Neuville's performance and emphasized the team's dedication to continuous research and development in the automotive sector.