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Business Hyundai Motor Signs MOU with KATECH, APQ and SAPTCO to Foster Hydrogen Mobility Ecosystem in Saudi Arabia
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Business Hyundai Motor Signs MOU with KATECH, APQ and SAPTCO to Foster Hydrogen Mobility Ecosystem in Saudi Arabia
Business Hyundai Motor Signs MOU with KATECH, APQ and SAPTCO to Foster Hydrogen Mobility Ecosystem in Saudi Arabia
Business Hyundai Motor Signs MOU with KATECH, APQ and SAPTCO to Foster Hydrogen Mobility Ecosystem in Saudi Arabia
Business Hyundai Motor Signs MOU with KATECH, APQ and SAPTCO to Foster Hydrogen Mobility Ecosystem in Saudi Arabia
Hyundai Motor Signs MOU with KATECH, APQ and SAPTCO to Foster Hydrogen Mobility Ecosystem in Saudi Arabia
RIYADH/ SEOUL – October 23, 2023 – Hyundai Motor Company signed a memorandum of understanding (MOU) with Korea Automotive Technology Institute (KATECH), Air Products Qudra (APQ) and the Saudi Public Transport Company (SAPTCO) to establish and develop an ecosystem for hydrogen-based mobility in the Kingdom of Saudi Arabia.
The parties have agreed to cooperate in establishing a hydrogen-based mobility ecosystem in Saudi Arabia and to provide support on technological services and human resources. Specific areas of collaboration include promoting demonstration projects for hydrogen fuel cell commercial vehicles and exploring opportunities for joint research in the field of hydrogen-based mobility.
Hyundai Motor is expected to provide hydrogen fuel cell commercial vehicles to SAPTCO as part of the partnership, with the pioneering technologies in the hydrogen fuel cell industry with field-proven products and services deployed worldwide.
This partnership with the country’s major stakeholders represents a significant milestone in our efforts to establish a sustainable hydrogen value chain in Saudi Arabia. We also plan to continuously expand the hydrogen-based mobility industry in line with Saudi Arabia’s ambition to reach net zero emissions.
President and CEO of Hyundai Motor Company
Meanwhile, KATECH is expected to explore further opportunities for collaboration in R&D and SAPTCO is expected to closely cooperate with the stakeholders to formulate a long-term plan aimed at further expanding the ecosystem for hydrogen-based mobility in the country.
“This cooperation opens doors for our hydrogen bus technology to enter the Middle East market,” said Seung-sik Na, President of KATECH. “We will work towards developing hydrogen buses suitable for high-temperature climates with the automotive industry so that the domestic automotive industry to expand its presence globally.”
In 2016, Saudi Arabia established the “Saudi Vision 2030” strategy to transition from relying on oil exports and promoting economic diversification through strategic investments in key sectors. As part of this strategy, the country announced the “Saudi Green Initiative” in 2021, demonstrating its commitment to exploring cutting-edge technologies and innovations to achieve the net zero carbon emission goal by 2060.
Hyundai Motor Group (the Group) has consistently been at the forefront of driving the energy transition in Saudi Arabia. Their initiatives began with successfully exporting two ELEC CITY Fuel Cell buses to Saudi Arabia in 2020. The Group expanded its reach in the country by exporting the XCIENT Fuel Cell heavy duty truck in 2021.
In March last year, the Group also signed a joint research agreement with the Saudi Arabian Oil Company (Aramco) and King Abdullah University of Science and Technology (KAUST) to minimize greenhouse gas emissions by developing an advanced fuel. These endeavors underpin the Group’s ongoing dedication to pioneering the adoption of clean and efficient energy technologies worldwide.
About Hyundai Motor Company
Established in 1967, Hyundai Motor Company is present in over 200 countries with more than 120,000 employees dedicated to tackling real-world mobility challenges around the globe. Based on the brand vision ‘Progress for Humanity,’ Hyundai Motor is accelerating its transformation into a Smart Mobility Solution Provider. The company invests in advanced technologies such as robotics and Advanced Air Mobility (AAM) to bring about revolutionary mobility solutions, while pursuing open innovation to introduce future mobility services. In pursuit of sustainable future for the world, Hyundai will continue its efforts to introduce zero emission vehicles equipped with industry-leading hydrogen fuel cell and EV technologies.
More information about Hyundai Motor and its products can be found at:
https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai
