Hyundai Motor Group is joining forces with Germany’s ‘Audi’ to strengthen its innovation initiatives in the field of hydrogen-electric cars. This is to expand the base of global hydrogen-electric cars’ markets and lead competition for supremacy in the hydrogen-electric cars markets.
Hyundai Motor said it signed a partnership agreement with Audi on June 20th regarding fuel-cell technology.
By establishing a strong cooperative relationship in hydrogen-electric car field, both companies are planning to create an overwhelming competitive advantage in the industry, and expand the global base in all directions.
Audi is responsible for the research and development of hydrogen-powered electric cars in the Volkswagen Group, and this agreement is effective for all Hyundai Motor Group and Volkswagen Group brands.
Both companies agreed to share patents and major components to promote hydrogen electric car technologies and thus revitalize the market. Furthermore, they also agreed to continue and expand technology collaboration in order to preempt the hydrogen-electric car market and secure technology leadership.
“The Hyundai-Kia Automotive Group has been paying close attention to the possibility of ‘hydrogen’ energy as an alternative to global environmental problems, energy supply anxiety, and resource depletion,” said Chung Eui-sun, Vice Chairman of Hyundai Motor Group.
“Hydrogen-electric cars are the most advanced from of motorized vehicles, and are the most potent future eco-friendly technology sector. Collaboration with strong partners like the Hyundai Motor Group will be a smart way to innovate in the hydrogen car field,” said Peter Mertes, Audi’s Technology Development Director.
Meanwhile, Hyundai Motor Group has successfully mass-produced hydrogen fuel cells for the first time in the world in 2013 based on bold investment and research development in the field of hydrogen electric cars since 1998.
Hyundai Motor Group is the leading player in the global hydrogen-electric car market, including the launch of ‘NEXO’, a next-generation hydrogen electric car with high technology.