Published by Todd Bush on October 23, 2023
RIYADH, Saudi Arabia and SEOUL, South Korea, Oct. 22, 2023 /PRNewswire/ -- Hyundai Motor Company signed a memorandum of understanding (MOU) with Korea Automotive Technology Institute (KATECH), Air Products Qudra (APQ) and the Saudi Public Transport Company (SAPTCO) to establish and develop an ecosystem for hydrogen-based mobility in the Kingdom of Saudi Arabia.
The parties have agreed to cooperate in establishing a hydrogen-based mobility ecosystem in Saudi Arabia and to provide support on technological services and human resources. Specific areas of collaboration include promoting demonstration projects for hydrogen fuel cell commercial vehicles and exploring opportunities for joint research in the field of hydrogen-based mobility.
Hyundai Motor is expected to provide hydrogen fuel cell commercial vehicles to SAPTCO as part of the partnership, with the pioneering technologies in the hydrogen fuel cell industry with field-proven products and services deployed worldwide.
"This partnership with the country's major stakeholders represents a significant milestone in our efforts to establish a sustainable hydrogen value chain in Saudi Arabia," said Jaehoon Chang, President and CEO of Hyundai Motor Company. "We also plan to continuously expand the hydrogen-based mobility industry in line with Saudi Arabia's ambition to reach net zero emissions."
Meanwhile, KATECH is expected to explore further opportunities for collaboration in R&D and APQ will secure a hydrogen supply in Saudi Arabia for the partnership. SAPTCO is expected to closely cooperate with the stakeholders to formulate a long-term plan aimed at further expanding the ecosystem for hydrogen-based mobility in the country.
"This cooperation opens doors for our hydrogen bus technology to enter the Middle East market," said Seung-sik Na, President of KATECH. "We will work towards developing hydrogen buses suitable for high-temperature climates with the automotive industry so that the domestic automotive industry to expand its presence globally."
In 2016, Saudi Arabia established the "Saudi Vision 2030" strategy to transition from relying on oil exports and promoting economic diversification through strategic investments in key sectors. As part of this strategy, the country announced the "Saudi Green Initiative" in 2021, demonstrating its commitment to exploring cutting-edge technologies and innovations to achieve the net zero carbon emission goal by 2060.
Hyundai Motor Group (the Group) has consistently been at the forefront of driving the energy transition in Saudi Arabia. Their initiatives began with successfully exporting two ELEC CITY Fuel Cell buses to Saudi Arabia in 2020. The Group expanded its reach in the country by exporting the XCIENT Fuel Cell heavy duty truck in 2021.
More information about Hyundai Motor and its products can be found at:
https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai
SOURCE Hyundai Motor Company
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside this Issue 🏆 LanzaTech Awarded Sustainable Markets Initiative 2023 Terra Carta Seal 🌿 Invert Partners with Carbonethic and Kaska Dena Council to Co-Develop Large-Scale, Nature-Based Project...
Inside this Issue 🌐 DevvStream Announces Participation at Upcoming COP28 Climate Change Conference 🛢️ Targray Joins Green Marine to Advance the Adoption of Sustainable Marine Fuels 🤝 Hyundai Motor...
Inside this Issue ✒️ GE Vernova and Next Hydrogen Sign MoU to Integrate Electrolysis Technology with Power Systems to Produce Green Hydrogen 🏆 Center for Energy Workforce Development Recognizes Co...
Eindhoven, the Netherlands (November 28, 2023) – Dutch Direct Air Capture (DAC) company Carbyon has successfully proven that their unique fast-swing process is able to capture CO2 using less than 2...
dynaCERT’s French Distributor Reports a Successful Solutrans Trade Show in Lyon (France)
TORONTO--(BUSINESS WIRE)--[dynaCERT Inc.](https://www.dynaCERT.com) (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company"), a global leader in carbon emission reduction technology, had ...
CORALVILLE, IA, Nov. 28, 2023 (GLOBE NEWSWIRE) -- [SunHydrogen, Inc.](https://www.sunhydrogen.com/) (OTCQB: HYSR), the developer of a breakthrough technology to **produce renewable hydrogen using s...
IBM, FuelCell Energy to Use AI in Effort to Forge Longer-Life Fuel Cell Systems
ZURICH, Switzerland, Nov. 28, 2023 (GLOBE NEWSWIRE) -- [IBM](https://www.ibm.com/us-en) and [FuelCell Energy, Inc.](https://www.fuelcellenergy.com/) (Nasdaq: FCEL) today announced they will work to...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.