(LEAD) Hyundai signs MOU with Saudi Aramco on hydrogen energy
(ATTN: ADDS details in paras 4, 6-8)
SEOUL, June 26 (Yonhap) -- Hyundai Motor Co., South Korea's leading carmaker, said Wednesday it has signed an initial pact with Saudi Arabia's national oil company, Saudi Aramco, to cooperate on hydrogen energy.
On Tuesday, Hyundai Motor Executive Vice Chairman Chung Euisun signed a memorandum of understanding with Ahmad A. Al-Sa'adi, senior vice president of technical services at Saudi Aramco, to seek a strategic partnership in hydrogen energy, advanced non-metallic materials and future technologies, the company said in a statement.
"The collaboration of Hyundai and Saudi Aramco will accelerate progress toward a hydrogen-powered society by expanding access to a robust hydrogen infrastructure and hydrogen fuel-cell electric vehicles," Chung said in the statement.
The Saudi Aramco official said the partnership with Hyundai is an important initial step to achieve additional joint businesses.
Under the partnership, the two companies will cooperate in establishing hydrogen charging infrastructure in South Korea and supply hydrogen fuel-cell electric cars in Saudi Arabia, the statement said.
South Korea plans to increase the number of hydrogen fuel-cell electric passenger cars to nearly 6,400 this year from 890 units last year as it strives to promote hydrogen vehicles amid stricter regulations on gas-guzzling and diesel-powered vehicles.
Hyundai has strongly pushed the hydrogen initiative as it seeks to secure a new growth driver. It has developed the Nexo hydrogen car, which is available in the market.
"The two companies will also team up to expand the adoption of non-metallic materials across a wide range of applications (in vehicles), including the use of carbon fiber and carbon fiber-reinforced plastic," it said.

In this photo taken on June 25, 2019, and provided by Hyundai Motor, Hyundai Motor Executive Vice Chairman Chung Euisun (L) and Ahmad A. Al-Sa'adi, senior vice president of technical services at Saudi Aramco, pose for a photo after signing an MOU to cooperate on hydrogen energy in Seoul. (PHOTO NOT FOR SALE) (Yonhap)
kyongae.choi@yna.co.kr
(END)
-
BTS' Jimin to pre-release track on his first solo album
-
U.S. B-1B strategic bomber returns to S. Korea as N.K. fires missile
-
(URGENT) N. Korean leader Kim Jong-un calls for completing readiness for nuclear attack against enemies: KCNA
-
Main opposition slams Korea-Japan summit as 'most humiliating' moment in diplomacy
-
BTS member Jimin's single tops iTunes charts in 110 countries
-
Defense ministry sets out to normalize military intelligence-sharing deal with Japan
-
BTS' Jimin to pre-release track on his first solo album
-
Opposition party denounces Yoon-Kishida summit as 'shameful submission to Japan'
-
(LEAD) Political divide intensifies in S. Korea over Yoon-Kishida summit
-
U.S. B-1B strategic bomber returns to S. Korea as N.K. fires missile
-
(LEAD) S. Korea fully restores bilateral military information-sharing pact with Japan
-
S. Korea, U.S. set for 'largest-ever' live-fire drills to mark alliance's 70th anniv.
-
Major N. Korean websites offline as of Tuesday morning
-
N. Korea fires multiple cruise missiles toward East Sea: source
-
(LEAD) LVMH CEO Bernard Arnault meets with department store executives over partnerships