Seoul/Opfikon ZH – H2 Energy and Hyundai have founded Hyundai Hydrogen Mobility. Starting in Switzerland, the joint venture will play a leading role in the European market for hydrogen mobility.
H2 Energy and Hyundai Motor are intensifying their collaboration. The hydrogen specialist from Opfikon and the Korean car maker reported that they intend to take the lead across Europe’s burgeoning hydrogen mobility ecosystem. To begin, Hyundai will deliver a total of 1,600 fuel cell electric heavy-duty trucks by 2025. The venture will lease a large portion of these to members of the H2 Mobility Switzerland Association, which comprises major refueling station operators as well as transport and logistics companies, including Coop, Emil Frey, Fenaco, Galliker Transport, Migros, Shell and Socar.
Hyundai Hydrogen Mobility intends to further expand its market presence to other European countries beyond Switzerland. Through a subsidiary, the joint venture plans to penetrate the hydrogen production and supply market, initially in Switzerland, but with prospects for entering other European countries. After scaling up to meet the demand in Europe, the company will also set its sights on other markets around the world, including the USA and Hyundai’s domestic market of Korea.
“With today’s agreement, Hyundai Motor will strengthen its business operations across the hydrogen ecosystems in Switzerland and beyond,” said In Cheol Lee, Executive Vice President and Head of Commercial Vehicle Division at Hyundai Motor. “The venture will enable us to take the first step toward successfully entering the larger European market with our fuel cell electric trucks.”
According to Rolf Huber, Chairman of H2 Energy AG, great momentum “towards eco-friendly mobility for heavy-duty trucks in Europe and beyond” is being generated by the 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.”