Two powerhouses work on future techs
Hyundai Motor and Saudi Aramco plan to collaborate on such futuristic technologies as hydrogen and advanced non-metallic materials, to name but a few.
Toward that end, the two behemoths signed a memorandum of understanding (MOU) on June 26 for the two-way cooperation.
“The MOU provides a framework to accelerate the expansion of a hydrogen ecosystem in the Korean and Saudi Arabian markets, and to explore the use of advanced non-metallic materials in various fields including the automotive industry,” a Hyundai official said.
“In addition to collaborating on hydrogen supply and the deployment of hydrogen refueling stations in Korea, Hyundai Motor and Saudi Aramco will grow awareness of Hyundai’s hydrogen fuel cell vehicles in the Kingdom of Saudi Arabia.”
He said that the two players will also team up to expand the adoption of non-metallic materials in various applications such as the use of carbon fiber and carbon-reinforced plastic.
Hyundai Executive Vice Chairman Chung Eui-sun expressed great hope on the bilateral partnership.
“The collaboration of Hyundai Motor and Saudi Aramco will accelerate progress toward a hydrogen society by expanding access to a robust hydrogen infrastructure and fuel-cell electric vehicles,” said Chung, the de-facto leader of Korea’s top automaker.
“Both businesses are leaders in the hydrogen value-chain, and our collaboration will support global action for a better, more sustainable future while exploring future automotive businesses and technologies.”
Aramco is a Saudi Arabian national petroleum ans gas company. It is one of the world’s most profitable corporations.
Hyundai has betted on the hydrogen economy, believing that hydrogen would be the main driving force of tomorrow’s eco-friendly mobility.
According to a recent report of the G20 meeting in Japan, hydrogen is enjoying unprecedented political and business momentum as the number of policies and projects expand rapidly the world over.
Recently, Vice Executive Chairman Chung himself gave an address over the hydrogen-powered society during the G20 meeting.