Hyundai Motor aims to lead hydrogen commercial vehicle sector

Chang Jae-hoon, CEO of Hyundai Motor Company, is touring the Hyundai Motor Group booth at the ‘H2 MEET 2024’ event held at KINTEX in Goyang, Gyeonggi Province, on the 25th. (Hyundai Motor Gruop)

Chang Jae-hoon, president and chief executive officer of Hyundai Motor Co., announced the South Korean automaker’s plans to expand partnerships with global hydrogen companies, with a focus on the commercial vehicle sector.

“We are consolidating our group’s capabilities related to the hydrogen business,” Chang said during H2MEET 2024, a hydrogen industry exhibition held at KINTEX in Goyang, Gyeonggi Province, on Wednesday. “We aim to strengthen our capabilities in various mobility and energy applications while also leading our external partnerships.”

He noted that global hydrogen companies are particularly interested in the commercial vehicle sector, adding that his company “intends to seek collaborations in this area.“

While electric vehicles are replacing internal combustion engines in passenger cars, hydrogen continues to hold significant potential in the commercial vehicle segment, such as trucks and buses. Chang’s focus on ”mobility and energy applications“ as key areas for collaboration with global hydrogen companies aligns with this trend.

Hyundai Motor Group’s hydrogen business applications, defined by its hydrogen value chain brand ”HTWO Grid,“ are mostly centered around commercial vehicles.

Key products include the Universe and Elec City hydrogen-electric buses, hydrogen fuel cell forklifts, the XCIENT hydrogen-electric truck, and hydrogen tube trailers for transporting hydrogen.

The group is also developing future products such as mobile hydrogen charging stations and the Honeycomb Generator, a modularized hydrogen generator.

Industry insiders noted that expanding partnerships in the commercial vehicle sector will open opportunities for Hyundai to collaborate with various global automakers.

Stellantis Group, the world’s fourth-largest automaker by sales, plans to launch a hydrogen truck, the Ram HD 500, in the United States in 2025, while Renault Group is developing a hydrogen version of its large van, the Master.

Volvo also unveiled its next-generation large electric truck, the FH Electric, on September 11th, 2024, which can travel up to 600 kilometers on a single charge.

During the event, Chang also reaffirmed that his company’s partnership with U.S. General Motors Co. (GM), which was established on September 12th, “will not be a joint venture but a business partnership.”

“The collaboration began after we acquired GM’s India plant,” he explained. ”We had been exploring opportunities for collaboration since the acquisition, and the partnership materialized as both sides’ business needs were in alignment.“