Hyundai Motor Accelerates Building Hydrogen Ecosystem in China... Signs MOU with Local Company

Lee In-cheol, Vice President and Head of Commercial Business Division at Hyundai Motor Company (top left in the photo, clockwise), Sha Meixing, Deputy General Manager of Shanghai Electric High Voltage Co., Ltd., Liu Xibao, Deputy General Manager of Shanghai Ronghua Electric and Financial Leasing Co., Ltd., and Liu Xiaojun, General Manager of Shanghai Shunhua New Energy Systems Co., Ltd., held a non-face-to-face business agreement ceremony on October 27 to establish a hydrogen ecosystem in China.

[Asia Economy Reporter Kiho Sung] Hyundai Motor Company is taking steps to establish a foothold for entering the Chinese hydrogen fuel cell commercial vehicle market.

Hyundai Motor announced on the 4th that it has signed two memorandums of understanding (MOUs) with partners in the Yangtze River Delta region and the Jing-Jin-Ji metropolitan area, the capital region of China, aiming to build a local hydrogen economy ecosystem. Through this multilateral cooperation, Hyundai plans to further solidify its position as a global leading brand in hydrogen fuel cell commercial vehicle technology.

First, on the 27th of last month, Hyundai Motor signed an MOU for the establishment of a hydrogen commercial vehicle platform in the Yangtze River Delta region together with Shanghai Electric High Polymer Co., Ltd., Shanghai Shunhua New Energy System Co., Ltd., and Shanghai Yonghua Financial Leasing Co., Ltd.

The four companies plan to build a hydrogen fuel cell vehicle business platform in the Yangtze River Delta, the economic hub of China, encompassing hydrogen production and supply, hydrogen refueling infrastructure construction, vehicle distribution, and vehicle operation (finance). They will also establish a cooperative system that allows each company to be organically connected and promote a pilot operation project for hydrogen fuel cell commercial vehicles. Hyundai aims to distribute more than 3,000 hydrogen fuel cell trucks in the Yangtze River Delta region by 2025.

Additionally, on the 4th, Hyundai Motor signed another MOU for the establishment of a hydrogen fuel cell vehicle platform in the Jing-Jin-Ji region with China Gangyan Group Antai Technology High Polymer Co., Ltd. (hereafter Antai Technology) and Hebei Gang Group Hebei Iron and Steel Industry Technology Service Co., Ltd. (hereafter Hebei Industrial Technology).

Through this agreement, Hyundai will supply hydrogen fuel cell trucks tailored to market needs; Antai Technology will provide technology related to hydrogen storage, transportation, and refueling, as well as support the construction of hydrogen refueling stations; and Hebei Industrial Technology will be responsible for supplying hydrogen using by-product hydrogen resources and discovering demand for hydrogen fuel cell large trucks.

The three companies plan to promote a pilot operation project for hydrogen fuel cell large trucks in the Jing-Jin-Ji region and cooperate with the goal of distributing approximately 1,000 hydrogen fuel cell trucks by 2025.

Lee In-cheol, Vice President and Head of Hyundai Motor’s Commercial Vehicle Division, said, “China is one of the markets with the greatest potential,” adding, “We plan to build a business cluster covering the entire hydrogen ecosystem in the Chinese market, including vehicle sales, hydrogen vehicle leasing, and refueling station operations.”

This content was produced with the assistance of AI translation services.