Hyundai and state energy company agree to push for expansion of hydrogen ecosystem

Lim Chang-won Reporter() | Posted : July 14, 2020, 16:53 | Updated : July 14, 2020, 16:53

[Courtesy of Hyundai Motor]

SEOUL -- South Korea's Hyundai auto group joined hands with a state energy company to push for the expansion of a hydrogen ecosystem. The two companies will establish a joint venture to build and operate convergence-type charging stations and actively respond to the establishment of charging infrastructure for commercial hydrogen-electric vehicles.

Convergence-type charging stations include various functions such as hydrogen production, charging, sales and fuel cell power generation. Korea Gas Corp. (KOGAS), which is leading a campaign to popularize hydrogen as alternative clean energy, has unveiled a roadmap to supply some 1.73 million tons of hydrogen and build a plumbing network by using its natural gas pipeline by 2030.

Hyundai's chief innovation officer Chi Young-cho said the two companies would work together to create a hydrogen ecosystem more quickly and provide an opportunity to strengthen the competitiveness of South Korea's hydrogen industry by expanding infrastructure. The auto group has vowed to produce 6.2 million fuel cell vehicles for domestic consumption and exports by 2040.

"In the future, we plan to strengthen cooperation in the hydrogen sector with Hyundai Motor Group to preemptively invest in the hydrogen business value chain as well as make inroads into overseas markets based on a joint business platform," said KOGAS CEO Chae Hee-bong.

In 2018, KOGAS, Hyundai and 13 firms formed a special purpose company to build hydrogen fuel stations.
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