Hyundai Motor, Air Liquide In Deal To Advance Hydrogen Ecosystem

(RTTNews) - South Korea's Hyundai Motor Co., Ltd. (HYMLF.OB) announced Thursday a strategic partnership with French industrial and medical gases firm Air Liquide (AI.PA, AIQUY) to accelerate the growth of the global hydrogen ecosystem.

Under the collaboration, the companies will establish key hubs in Europe, Korea and U.S. to foster hydrogen ecosystem growth.

The companies renewed their Memorandum of Understanding or MoU at the Hydrogen Council CEO Summit, held from December 2 to 4 in Seoul.

With the deal, the firms would expand a comprehensive hydrogen ecosystem, encompassing production, storage, transportation and utilization.

The partnership will focus on scaling up hydrogen use across key regions, including Europe, Korea and the United States. Specific emphasis will be on heavy-duty transport, logistics and public transportation.

Ken Ramirez, Head of Energy & Hydrogen Business Division at Hyundai Motor Group, said, "Together, we are building a robust hydrogen value chain, from production to utilization, with the aim of making hydrogen a practical and sustainable solution for global energy challenges."