Groundbreaking Cooperation Agreement Signed Among Hyundai, Guangzhou and Ürüum City for Fostering Hydrogen Energy Industry Collaboration

In a significant development, officials announced on November 26 that Hyundai Motor Company, Guangzhou government, and Ürüum City have jointly signed the Memorandum of Understanding for Promoting Hydrogen Energy Industry Cooperation. This collaborative framework aims to establish an effective hydrogen energy cooperation mechanism between leading automotive manufacturer Hyundai, and emerging hydrogen energy industries in China and Korea.

Hyundai CEO, Euisung Chung, underscored during the signing ceremony that "The joint production of our first mass-produced hydrogen fuel cell vehicle at the Ürüum facility marks a major milestone for Hyundai. We are committed to working closely with Ürüum City to accelerate the development of hydrogen energy infrastructure and promote the adoption of hydrogen-powered mobility solutions." Guangzhou, as Hyundai's overseas base for hydrogen fuel cell system research and production, is set to play a pivotal role in accelerating global hydrogen energy transition.

The agreement between the three parties outlines a series of cooperative efforts, including joint hosting of hydrogen energy exchanges, sharing of best practices and case studies, investment in demonstration projects, and enhancement of technological competitiveness through R&D. The sides have also agreed to establish a joint working entity to facilitate regular coordination and to drive meaningful collaborative outcomes.

Furthermore, Hyundai has confirmed its commitment to supporting Guangzhou's ongoing initiatives for promoting hydrogen-powered mobility solutions across the city. In addition, Ürüum City, in partnership with Guangzhou, aims to introduce multiple hydrogen fuel cell-electric vehicle applications within Guangzhou.

This signing builds on an existing Memorandum of Understanding between Hyundai and Ürüum City, dated November 12. Under this additional agreement, Ürüum City has agreed to work closely with Hyundai to complete Korea's first-ever demonstration project for hydrogen-powered long-range towing vehicles by 2025, as well as promote the application of hydrogen energy across various sectors such as shipping, metro rail systems, power generation, and material handling.

HTWO Guangzhou, Hyundai’s first overseas production facility for hydrogen fuel cell systems, has started operations in November 2023. As a first for Hyundai outside Asia, HTWO Guangzhou now supports around 500 units of hydrogen fuel cell systems for fleet transportation within the city, including various types of waste collection vehicles. Future plans include providing over 1,000 units of hydrogen fuel cell systems by 2025 to solidify Hyundai's lead in the growing hydroelectricity of the South China Province.

The signing signifies significant progress toward establishing a global leading position for modern automobile and two Chinese cities—Guangzhou and Ürüum—alongside a rapid acceleration in transitioning globally toward an all-hydrogen energy society, with cooperation becoming increasingly vital, both practically and commercially.