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Hyundai Hydrogen Mobility enters Europe’s hydrogen market

Joint Venture Agreement signing ceremony

Hyundai will deliver 1,600 fuel cell commercial trucks through 2025

Hyundai Motor Company and H2 Energy AG have signed a contract for a joint venture, Hyundai Hydrogen Mobility, aimed at taking a lead across Europe’s growing hydrogen mobility ecosystem.

The joint venture’s operations will commence with Hyundai Motor delivering 1,600 fuel cell electric heavy-duty trucks to Hyundai Hydrogen Mobility from 2019 through 2025. The venture will then lease a large portion of the trucks to the H2 Mobility Switzerland Association, which comprises refuelling station operators, transport and logistics companies, as well as various other industry players that promote hydrogen mobility.

Hyundai Hydrogen Mobility also plans to penetrate the hydrogen sales market through a subsidiary firm that produces and supplies hydrogen in Switzerland, with prospects for entering other European countries.

Hyundai is hoping to strengthen its presence in Switzerland, where the demand for fuel cell trucks is expected to grow owing to a nationwide road tax on diesel trucks. The latter incentivises fleet operators to switch to zero emission vehicles. In the longer term, after scaling up to meet the demand in Europe, Hyundai intends to launch its fuel-cell commercial vehicle businesses in the U.S. and domestic market in Korea.

“Harnessing the prospective success of the world’s first commercialisation scheme of fuel cell trucks, Hyundai Motor will continue to maintain its technological prowess in hydrogen technology as an innovative and environmentally committed global automaker,” said In Cheol Lee, Executive Vice President and Head of Commercial Vehicle Division at Hyundai Motor.

H2 Energy Chairman Rolf Huber said: “We are very proud to play an active part in this pioneering project in the framework of a joint venture. In addition to supporting the fuel cell truck business, H2 Energy will create a related ecosystem that can flexibly adapt to operate these vehicles.”

The fuel-cell electric powertrain technology has advantages over the battery electric powertrain technology in large commercial vehicles, such as trucks and buses. Fuel cell technology saves loading space and reduces vehicle weight, progressively becoming a more cost-efficient power source as the vehicle size increases.

Hyundai Motor Group has begun fostering the growth of fuel cell and other related industries around the world as part of its FCEV Vision 2030. It aims at creating a worldwide hydrogen society that leverages hydrogen technologies beyond the transportation sector.

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