Hyundai Motor Signs Agreement for Global Hydrogen Ecosystem Development
Key Ideas
- Hyundai Motor signed an initial agreement with Ulsan and Guangzhou to develop the global hydrogen ecosystem.
- The agreement includes creating a consultative body, finding joint projects, and collaborating on research related to hydrogen energy.
- Ulsan and Guangzhou aim to strengthen their positions as hydrogen-friendly cities with Hyundai's assistance.
- Hyundai Motor CEO emphasized the significance of Ulsan and Guangzhou in the global hydrogen industry due to their previous achievements.
Hyundai Motor, as South Korea's leading automaker, has recently inked a crucial agreement with the cities of Ulsan in South Korea and Guangzhou in China to advance the global hydrogen ecosystem. The agreement entails the establishment of a consultative body to oversee various aspects of the hydrogen industry, including production, supply, and usage of hydrogen energy, along with joint research ventures to enhance related technologies. This move is geared towards fostering a more sustainable and environmentally friendly approach to energy consumption. Moreover, Hyundai Motor has pledged to support Ulsan and Guangzhou in bolstering their reputation as cities conducive to hydrogen initiatives. Ulsan, having been designated to spearhead the Korean government's hydrogen city project, and Guangzhou, selected as one of the areas to champion hydrogen vehicle adoption in 2021, are pivotal players in the push towards hydrogen technology. Hyundai Motor's CEO, Chang Jae-hoon, lauded the pivotal roles of these cities in the global hydrogen landscape, citing Ulsan as the location of the company's inaugural hydrogen vehicle production facility and Guangzhou as the site of its first overseas hydrogen fuel cell system manufacturing unit. This partnership signifies a significant step in propelling the adoption of hydrogen technology and fostering sustainable practices in the automotive industry.