Ashraf Abo Arafe
Hyundai Motor has signed a memorandum of understanding with Saudi Aramco to develop a framework to accelerate the expansion of the hydrogen fuel system in the Korean and Saudi markets, as well as to explore the possibility of using advanced materials in various fields, most notably the automotive industry.
Under the agreement, Hyundai Motor and Saudi Aramco will raise awareness in the Kingdom of hydrogen fuel cell vehicles produced by Hyundai, as well as cooperating in supplying the Korean market with hydrogen and building hydrogen fuel supply stations in Korea.
The two companies will also expand their reliance on non-metallic materials in a wide range of applied application areas, including the use of carbon fibers and carbon fiber reinforced plastics, and will collaborate in the development of future automotive technologies.
“Collaboration with Aramco will accelerate progress towards building a hydrogen-based industrial community by expanding access to solid, solid hydrogen infrastructure and advanced electric cell-powered vehicles,” said Yeosun Chung, executive vice president of Hyundai Motor.
“Both companies have a leading position in the hydrogen value chain, and our collaboration will be instrumental in supporting global efforts for a better and more sustainable future, while enhancing our ability to explore future business and technologies in the automotive world.”, added Yeosun Chung.
