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Hyundai, U.S. gov't sign MOU over hydrogen technologies

Economy 10:08 February 11, 2020

By Choi Kyong-ae

SEOUL, Feb. 11 (Yonhap) -- South Korea's Hyundai Motor Co. said Tuesday it will cooperate with the U.S. energy department to promote hydrogen vehicles and their commercialization in the world's most important automobile market.

Hyundai has signed a memorandum of understanding with the Department of Energy to collect and publish validated data on demonstrating hydrogen fuel cell technologies and hydrogen infrastructure under real world operating conditions, the company said in a statement.

"We firmly believe that hydrogen fuel cells are necessary for a sustainable future. We are delighted that our technologies can help the U.S. Department of Energy as it continues to explore the future potential of hydrogen," Chung Euisun, executive vice chairman of Hyundai Motor Group, said in the statement.

In this photo taken Feb. 10, 2020, and provided by Hyundai Motor Group, the group's Executive Vice Chairman Chung Euisun (R) shakes hands with Under Secretary of Energy Mark W. Menezes against the background of the Nexo hydrogen car in front of the energy department building in Washington, D.C. (PHOTO NOT FOR SALE) (Yonhap)

Hyundai expects the partnership will help address technical barriers and enable progress in hydrogen and fuel cell technologies across sectors, it said.

U.S. President Donald Trump's administration is committed to utilizing every source of energy to ensure America's transportation needs and challenges are aptly met and resolved, Under Secretary of Energy Mark W. Menezes said.

"To meet this commitment, it is essential that we collaborate with industry. We are pleased to partner with Hyundai to help advance fuel cell and hydrogen technologies, and ensure our nation's sustainable transportation future," he said.

Hyundai provided its first Nexo SUV to the Department of Energy in 2019 and plans to deliver an additional five Nexos to support the energy ministry through the work to accelerate the progress of hydrogen and fuel cell technologies across a variety of applications, the statement said.

To take the lead in the hydrogen vehicle market, Hyundai announced in late 2018 its plan to invest 7.6 trillion won for partnerships with auto parts companies, research and development activities, and facility expansion by 2030.

Hyundai aims to establish a production facility capable of rolling out 50,000 hydrogen-powered vehicles a year by 2030. It also targets selling 200,000 hydrogen fuel cell systems a year in global markets by the same year.

This year, Hyundai aims to sell 10,100 Nexo vehicles mainly to public organizations and companies, more than doubling from the 4,194 units it sold last year.

This file photo provided by Hyundai Motor shows the Nexo hydrogen fuel cell electric vehicle. (PHOTO NOT FOR SALE) (Yonhap)

kyongae.choi@yna.co.kr
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