Schaeffler says it is now a steering member on the Hydrogen Council based in Belgium.

The initiative comprises 81 companies from the energy, transport and industrial sectors.

"We want to shape C02-neutral, sustainable mobility with regard to the entire energy chain," said Schaeffler CEO, Klaus Rosenfeld.

"We will accomplish this by using the enormous future potential of green hydrogen along the entire value-added chain. Joining the Hydrogen Council will enable us to further advance and establish hydrogen technologies together with strong partners globally.

"Hydrogen technology offers enormous potential in this area, both in terms of energy storage and emissions-free drive solutions. Our expertise in materials technology, forming technology, and surface technology will enable production of key components for the future hydrogen economy and will make a significant contribution to the company's success."

Schaeffler joined the Bavarian Hydrogen Council last year.

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