Hyundai Motor Company on Thursday officially announced that it has signed a Memorandum of Understanding (MOU) with Hyundai Electric to develop a hydrogen fuel cell package for mobile power generation. The agreement signing took place virtually, which was attended by Saehoon Kim, Head of Hyundai Motor Group Fuel Cell Center, and Seok Cho, President and CEO of Hyundai Electric. The partnership combines Hyundai Motor's fuel cell experience and Hyundai Electric's power equipment expertise.
Also Read: Hyundai Likely To Launch New EV In India By 2024; Will Be Positioned Below Kona EV
Under the agreement, the two parties will develop a hydrogen fuel cell package dedicated to mobile power generators and alternative maritime power (AMP) supply solutions, based on Hyundai Motor's polymer electrolyte membrane fuel cell (PEMFC) system that is used in Hyundai Motor's fuel cell vehicles.
The MOU signing took place virtually, which was attended by Saehoon Kim, Head of Hyundai Motor Group Fuel Cell Center, and Seok Cho, President and CEO of Hyundai Electric.
The new fuel cell-based package system is expected to be a game-changer in the mobile generator market, which is presently dominated by diesel generators. As a part of this collaboration, Hyundai Motor will supply PEMFC fuel cell systems and provide technical support whereas Hyundai Electric will majorly focus on developing and commercialising a fuel cell-based power generation package that includes mobile generators and AMP supply systems. Hyundai Electric will also explore a variety of business models for marketing the new package in Korea and abroad.
Saehoon Kim, Executive Vice President and the Head of Fuel Cell Center of Hyundai Motor Group said, "This MOU underlines the importance of providing carbon-neutral solutions in power generation applications in order to accelerate the establishment of a sustainable hydrogen society. Hyundai Motor will continue to expand the potential of hydrogen fuel cell technology beyond mobility applications and into the power generation market."
