Hyundai ties up with Chinese firms to build hydrogen mobility ecosystem in China
Hyundai has joined with a number of Chinese companies to spearhead development of hydrogen mobility and fuel cell commercial vehicle ecosystem in China. This venture will help Hyundai set up a clean fuel zero-emission mobility alternative in China, home to world's largest electric vehicles market.
Hyundai has announced that it has signed an MOU with Shanghai Electric Power, Shanghai Sunwise New Energy System and Shanghai Ronghe Electric Technology Financial Leasing companies.
Hyundai also signed a separate deal with China Iron and Steel Research Institute Group and Hebei Iron and Steel Group as it introduced Hyundai XCIENT Fuel Cell heavy-duty truck for the first time in China at the 2020 China International Import Expo.
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In October, Hyundai handed over the first seven units of its XCIENT Fuel Cell, the world’s first mass-produced fuel cell electric heavy-duty truck, to customers in Switzerland.
“Hyundai believe China has a massive potential for hydrogen powered commercial vehicle," said In Cheol Lee, Executive Vice President and Head of Commercial Vehicle Division at Hyundai Motor. “The company is committed to becoming a FCEV solution provider by creating a business cluster across the entire hydrogen ecosystem in China."
The deal between Hyundai and its new Chinese partners will form a cooperative system that will produce hydrogen, construct refuelling stations and finance fleet operations based on supply of Hyundai’s fuel cell electric commercial vehicles in the Yangtze River Delta area. It also plans to promote a pilot operation business of fuel cell electric vehicles.
Shanghai Electric Power will lead investments in constructing hydrogen refuelling stations and an electrolytic hydrogen production process using renewable energy. It will also help set up a hydrogen production project through Integrated Gasification Combined Cycle.
Shanghai Sunwise will build and operate hydrogen refuelling stations while Shanghai Ronghe Electric Technology Financial Leasing will provide financial support services for the fuel cell electric commercial vehicle pilot operations.
Hyundai will supply its fuel cell electric commercial vehicles to major logistics companies in the Yangtze River Delta area where the company is going to establish and manage a fuel cell electric commercial vehicle operating company.
Hyundai’s second deal with China Iron and Steel Research Institute Group and Hebei Iron and Steel Group is aimed to build a cooperative system for hydrogen mobility in the Jing-Jin-Ji cluster, home to China’s major steelmakers. It not only boasts a stable and abundant supply of by-product hydrogen, but also a high demand of heavy-duty trucks.
A trial run project of fuel cell commercial trucks in the area will take place soon with the aim of supplying 1,000 fuel cell commercial trucks by 2025.