ULSAN < invest Korea

According to Yonhap News,

Hyundai Motor Co., South Korea's top automaker, signed an initial agreement with the southeastern city of Ulsan and the Chinese city of Guangzhou on Monday to facilitate the development of the global hydrogen ecosystem, according to its officials.

Hyundai Motor and the local governments of the two cities signed the trilateral agreement to join hands for the global transition into a hydrogen-based society, the officials said.

Under the agreement, the three sides plan to create a consultative body on the hydrogen industry, and find joint projects for producing, supplying and using hydrogen energy, as well as collaborative research projects for developing related technologies.

Hyundai Motor said it will also help Ulsan and Guangzhou strengthen their presence as hydrogen-friendly cities.

Earlier this year, Ulsan was selected to lead the hydrogen city creation project led by the South Korean government.

Guangzhou in Guangdong Province was also picked as one of five model areas to promote the use of hydrogen cars in 2021.

Hyundai Motor President and CEO Chang Jae-hoon highlighted the two cities' role in the global hydrogen industry, saying the company has mass-produced its first hydrogen vehicle in its Ulsan plant and Guangzhou houses its first overseas hydrogen fuel cell system production base.

nyway@yna.co.kr

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Source: Yonhap News (November 25, 2024)