Iljin Highsolus, First Entry into the European Hydrogen Vehicle Market

Europe's Largest Environmental Special Vehicle Manufacturer Paon Group Signs Hydrogen Fuel Storage System Supply Contract

German Paun Group Hydrogen Environment Special Truck

[Asia Economy Reporter Kim Cheol-hyun] Iljin Hi-Solus, an eco-friendly hydrogen fuel storage solution specialist company under Iljin Group, is entering the European hydrogen vehicle market.

Iljin Hi-Solus announced on the 20th that it signed a supply contract for hydrogen fuel storage systems with Germany's FAUN Group. FAUN Group is the largest environmental special vehicle manufacturer in Europe, located in Osterholz, Germany, producing road cleaning and municipal waste disposal trucks.

The initial contract is for 120 hydrogen environmental special trucks, and the plan is to expand supply to over 2,000 units cumulatively by 2025. Typically, commercial vehicles require high output performance, so each vehicle is equipped with hydrogen fuel storage systems equivalent to 6 to 12 passenger cars.

Europe is the fastest-growing market for the hydrogen economy globally. In 2020, the European Commission (EC) announced a plan to establish a green hydrogen production system of 10 million tons annually by 2030. FAUN Group is currently replacing its main models entirely with hydrogen electric trucks in line with this market trend.

An Hong-sang, CEO of Iljin Hi-Solus, said, "This contract is the first step toward the global market entry we have been preparing for," adding, "Europe is a rapidly growing hydrogen economy market, and we will secure the European hydrogen storage solution market through strategic cooperation expansion."

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