"From Hydrogen Trams to V2G" Hyundai Motor Group and Jeju Join Forces for Carbon Neutral Transition

MOU Signed with Jeju Province on the 25th
Cooperation to Establish a Green Hydrogen and Distributed Energy Ecosystem

Hyundai Motor Group is accelerating Jeju Province’s transition to a carbon-neutral city by strengthening cooperation with Jeju in the field of renewable energy, including green hydrogen and distributed energy.

On September 25, Hyundai Motor Group announced that it had signed a memorandum of understanding (MOU) titled "Business Agreement for Establishing a Green Hydrogen and Distributed Energy Ecosystem in Jeju Province" at the Jeju International Convention Center. The event was attended by Yang Heewon, President of Hyundai Motor Group R&D Division, Ken Ramirez, Executive Vice President and Head of Energy & Hydrogen Business Division, Oh Younghoon, Governor of Jeju Special Self-Governing Province, and other key stakeholders.

This agreement aims to facilitate the transition to renewable energy, focusing on green hydrogen and distributed energy, in alignment with Jeju Province’s goal of achieving carbon neutrality by 2035. Green hydrogen refers to hydrogen produced by splitting water using electricity generated from renewable energy sources, resulting in zero greenhouse gas emissions. Distributed energy is energy that is produced and consumed locally in small-scale units across various regions.

Hyundai Motor Group and Jeju Province signed a business agreement on the 25th to establish a green hydrogen and distributed energy ecosystem in Jeju Province. Oh Younghoon, Governor of Jeju Province (left in the photo), and Yang Heewon, President of Hyundai Motor Group R&D Division, are taking a commemorative photo. Photo by Hyundai Motor Group

To this end, Hyundai Motor Group and Jeju Province will strengthen cooperation across the entire hydrogen value chain, from production and storage to transportation, supply, and utilization. The two parties will also actively collaborate in the field of distributed energy, focusing on the establishment of V2G (vehicle-to-grid) services, which enable bidirectional electricity exchange between electric vehicles and the national power grid.

Specifically, the cooperation will include: △ technology development to expand green hydrogen production, △ expansion of hydrogen mobility adoption and infrastructure, △ introduction of hydrogen trams, and △ establishment of eco-friendly logistics and hydrogen infrastructure at ports for decarbonization, thereby promoting collaboration throughout the entire hydrogen industry.

Working together with Jeju Province, Hyundai Motor Group plans to develop 5MW-class PEM (polymer electrolyte membrane) water electrolysis mass production technology for green hydrogen production at the Gimnyeong Wind Power Complex by 2029, and to secure cutting-edge green hydrogen production technology through large-scale demonstration projects.

Starting next year, Jeju Province will provide purchase subsidies for hydrogen passenger vehicles for the first time and will additionally introduce hydrogen buses and hydrogen-powered cleaning vehicles. Furthermore, in collaboration with Hyundai Motor Group, the province will expand the construction of hydrogen refueling stations throughout Jeju.

In addition to the hydrogen business, cooperation will continue to establish a distributed energy ecosystem. Hyundai Motor Group and Jeju Province aim to build a sustainable V2G infrastructure, achieve energy self-sufficiency, and enhance power grid efficiency.

To achieve these goals, the two parties agreed to pursue various initiatives, including: △ piloting V2G services in distributed energy-specialized areas, △ commercialization of V2G services, △ promoting the distribution of electric vehicles equipped with V2G functionality, △ attracting policies to expand V2G infrastructure, and △ improving future electricity market systems.

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