Hyundai Motor "Investment in German Hydrogen Company H2 Mobility, Expanding Hydrogen Business"

Hyundai Motor Company announced on the 5th that it plans to invest in Germany's hydrogen fuel refueling network, 'H2 Mobility.' (Photo by Hyundai Motor Germany)

[Asia Economy Reporter Changhwan Lee] Hyundai Motor Company announced plans to invest in Germany's hydrogen fuel refueling network, 'H2 Mobility.'

Hyundai Motor Germany released a statement on the 5th (local time) announcing a partnership with H2 Mobility, which is building hydrogen infrastructure in Germany.

H2 Mobility is Germany's largest hydrogen operator, having started building a hydrogen refueling station network in 2015 and currently operating 91 stations nationwide.

Following Total, Shell, OMV, Linde, Air Liquide, and Daimler, Hyundai Motor becomes the seventh shareholder of H2 Mobility. However, the specific investment amount was not disclosed.

Hyundai plans to lead the expansion of hydrogen fuel cells and hydrogen vehicles not only in Germany but also in the European market together with H2 Mobility. Hyundai has been actively participating in the development of hydrogen infrastructure in Germany since 2017 through its partnership with H2 Mobility.

Hyundai already exports hydrogen vehicles such as the Nexo and Xcient hydrogen electric trucks to Europe and plans to expand product exports in the future. For this, partnerships with local hydrogen operators are essential.

A Hyundai Motor official stated, "Hyundai has long collaborated with hydrogen, energy, and logistics companies worldwide to expand its hydrogen fuel cell system business and transition into a hydrogen company," adding, "We will create additional opportunities to expand the hydrogen ecosystem through cooperation with H2 Mobility."