Hyundai Motor Company signed a three-way agreement with the Ulsan City government in South Korea and the Guangzhou government in China to promote the development of a hydrogen ecosystem. The “Hyundai Motor-Ulsan City-Guangzhou City Hydrogen Ecosystem Joint Cooperation Promotion Agreement” was signed this week in Guangzhou, in China’s Guangdong Province.
The three parties have agreed to establish a “hydrogen industry council”, which will meet quarterly to encourage and assess tangible collaboration results in areas such as producing, supplying and using hydrogen energy and helping to establish partnerships to develop hydrogen-related technologies.
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The council will help bring together various parties from industry and academic institutions to carry out joint research projects to help “secure hydrogen technology competitiveness”.
Earlier this year, Ulsan was selected by the South Korean government to lead the country’s efforts in creating a hydrogen ecosystem. Hyundai Motor said it will also help Ulsan and Guangzhou strengthen their roles as hydrogen-friendly cities.
Speaking at the signing event Hyundai Motor’s CEO, Jang Jae-hoon, stated: “Hyundai Motor mass-produced the world’s first hydrogen electric vehicle developed with its proprietary technology at the Ulsan plant and now Ulsan City is working with Hyundai Motor to expand hydrogen infrastructure and various hydrogen mobility projects to create a successful global hydrogen city.”
The CEO added: “China is an important market poised to grow into the world’s largest hydrogen electric vehicle market, and Guangzhou is the city where Hyundai Motor’s first and only overseas hydrogen fuel cell system production base is located. Hyundai Motor plans to act as a bridge between the two cities, helping both grow into global leading hydrogen cities.”
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By GlobalData
