Hyundai Motor has become a shareholder in Germany-based hydrogen infrastructure company H2 Mobility.

The move makes the vehicle manufacturer the first shareholder outside of the circle of H2 Mobility’s founding members: TotalEnergies, Shell, OMV, Linde, Air Liquide and Daimler.

As a shareholder, Hyundai Motor Company will be represented by its German subsidiary Hyundai Motor Deutschland.

Welcoming the move, Nikola Iwan, Managing Director of H2 Mobility, said: “We are very pleased about our new shareholder. By joining, Hyundai is underlining the increasing importance of hydrogen as it guarantees unlimited, unrestricted mobility.”

Since H2 Mobility was founded in 2015, Hyundai has been serving as an affiliated partner in the development of hydrogen infrastructure in Germany – a location with one of Europe’s most developed hydrogen infrastructure network.

Michael Cole, President and CEO of Hyundai Motor Europe, said: “Hyundai Motor underlines its strong commitment to fuel cell technology by actively supporting the development of a hydrogen infrastructure.

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“Combining our experience in hydrogen fuel cell systems and H2 Mobility’s years of hydrogen infrastructure development, this partnership will empower us to make significant headway toward creating a clean hydrogen ecosystem.”