South Korea's biggest carmaker by sales, Hyundai Motor Co., has signed two separate initial deals with Chinese companies to supply 4,000 hydrogen trucks by 2025 in a move to enter the Chinese hydrogen commercial vehicle market.
Hyundai signed the with Shanghai Electric Power Co., Shanghai Sunwise Energy Systems Co., and Shanghai Ronghe Electric Technology Financial Leasing Co. to supply 3,000 hydrogen fuel-cell electric trucks in the next five years to the companies in the Yangtze River Delta region, the company said in a statement. Another MOU was signed with Advanced Technology & Materials Co. and HBIS Group to provide 1,000 hydrogen trucks to the firms in the Jingjinji region, also known as the Beijing-Tianjin-Hebei economic zone.
By 2030, Hyundai plans to export an accumulated 25,000 hydrogen commercial cars to Europe, 12,000 to the United States and 27,000 to China. It is developing a hydrogen truck that can travel more than 1,000 kilometers on a single charge. The XCIENT can travel up to 400 kilometers per charge, the company said.
"We are planning to set up a 'business cluster' which covers hydrogen vehicle sales, lease programs, and charging stations as China is one of the hydrogen markets with the most potential," said Lee In-Cheol, Executive Vice President in charge of the commercial vehicle business division at Hyundai Motor.
Source & Image: EN.YNA | en.yna.co.kr
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