Hyundai Motor has officially launched operations at its new Hyundai Hydrogen Mobility (HMM) joint venture with Swiss hydrogen company H2 Energy, which will target growth opportunities in Europe's environment friendly commercial vehicle market.
Gosgen, Switzerland based HMM aims to sell 1,600 hydrogen powered trucks locally and in other markets in Europe by 2025.
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In major Asian markets such as South Korea, Japan and China, many automakers and governments see significant potential for hydrogen fuel cell technology to become a mainstream sustainable fuel of the future alongside battery powered electric vehicles.
HMM has an agreement in place with Hydrospider, a joint venture between H2 Energy, Alpiq and Linde, to operate jointly a hydropower plant in Switzerland for hydrogen generation.
Hyundai Motor commercial vehicle chief Lee In-cheol said: "Through the partnership between Hyundai Hydrogen Mobility and Hydrospider, Hyundai Motor will offer its fuel cell electric trucks in a specially designed ecosystem."
This is seen as a launch pad for broader market acceptance of hydrogen fuel cell vehicles in Europe.
