Hyundai reinforces its bet on hydrogen, having signed a memorandum of understanding with the Saudi Arabian Oil Company (Saudi Aramco).
With this agreement, both companies will create conditions for the expansion of the hydrogen ecosystem in both South Korea and Saudi Arabia, not only in terms of hydrogen supply, but also in the implementation of refueling stations in both countries.
Hyundai, through its Executive Vice President, Eui sun Chung, remains convinced of a “hydrogen-powered society” as the most viable solution for an energy transition.
Eui sun Chung, Executive Vice President of HyundaiThe collaboration between Hyundai and Saudi Aramco will accelerate progress towards a hydrogen partnership, expanding access to robust hydrogen infrastructure and fuel cell vehicles. Both companies are leaders in the hydrogen value chain, and our collaboration will enable a better, more sustainable future as we explore businesses and technologies for the future of the automotive industry.
It's all part of the group's commitment to sustainable mobility, the Vision FCEV 2030 , which seeks to create a global hydrogen partnership — by 2030 the Hyundai Motor Group wants to have a production capacity of 700,000 units per year for fuel cell systems. Find out more about FCEV Vision 2030:
The agreement signed with Saudi Aramco is not restricted to hydrogen and fuel cell. The two companies will also collaborate to expand the adoption of non-metallic materials in multiple fields and applications, including the use of carbon fiber and carbon fiber reinforced polymers (CFRP).
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The cooperation between the two companies in the exploration of business and other automotive technologies was also mentioned.