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 burgeoning hydrogen mobility ecosystem.
To begin the joint venture’s operations, Hyundai Motor will deliver 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 these fuel-cell powered trucks to the H2 Mobility Switzerland Association, which comprises major refuelling station operators, transport and logistics companies, as well as to various other industry players that promote hydrogen mobility in Switzerland.
The joint entity will further expand its market presence to other European countries beyond Switzerland.
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.
With the establishment of Hyundai Hydrogen Mobility, Hyundai expects to gain a foothold in Switzerland, where the demand for fuel cell trucks is expected to grow from a stiff nationwide road tax on diesel trucks, which incentivises fleet operators of diesel trucks to switch to zero emission vehicles.
In the longer term, Hyundai plans to establish an advanced, sustainable position in Europe’s fuel cell electric commercial vehicle market, as it increasingly embraces green mobility amid stringent regulations targeting carbon emissions.
H2 Energy has industrywide capabilities throughout Switzerland’s hydrogen ecosystem, encompassing hydrogen production and supply, refuelling stations, fuel cell vehicle procurement and other fields.
The company also offers technical and consulting solutions, drawing on its engineering expertise, extensive infrastructure, solid market presence and close industrywide connections.
After scaling up to meet the demand in Europe, Hyundai will launch its fuel-cell commercial vehicle businesses in other regions around the world, including the U.S. and domestic market in Korea.
Hyundai Motor is a world leader in the development of hydrogen fuel cell technology, becoming the world’s first automaker to commercialize fuel-cell electric vehicles with the introduction of ix35 Fuel Cell (also known as Tucson Fuel Cell in some markets) in 2013.
NEXO – Hyundai’s second-generation FCEV with a 609-kilometer range on a single charge (under Korean certification standards) – emits only clean water vapor and purifies the air while driving.
The fuel-cell electric powertrain technology has advantages over the battery electric powertrain technology in large commercial vehicles, such as trucks and buses.