Hyundai Motor has announced a new partnership with the Commonwealth Scientific and Industrial Research Organization (CSIRO) and Fortescue Metal Group Ltd to co-develop new technologies for the extraction of hydrogen from ammonia.
According to local reports, South Korea’s leading automaker said it is planning to use metal membrane developed by CSIRO to extract hydrogen and deliver it in the form of liquid ammonia to global markets.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Hyundai aims to become a global leader in hydrogen fuel-cell electric vehicles (FCEVs), backed by the South Korean government which is looking to adopt hydrogen as the country’s main alternative fuel for automobiles.
Hyundai in 2018 announced plans to invest KRW7.6trn (US$6.4bn) in this segment, with a target to produce 500,000 FCEVs annually by 2030. So far it has sold 9,228 Nexo FCEVs, including 7,533 units in its home market and 1,695 overseas. It also began exporting heavy-duty FCEVs to Europe in July.
