According to the letter of intent for cooperation, the three parties will make every effort to set up a hydrogen energy joint venture company, focusing on the pain points of commercial application of hydrogen energy and developing four major businesses based in Guangzhou:
Facing the automotive field, it will sell the hydrogen fuel cell system based on the technology of Hyundai Motor Group to the China market, and provide services such as system and vehicle engineering application integration and after-sales;
Facing the ecology of hydrogen energy industry, innovate the cultivation mode of supply chain;
Facing the operation field, providing hydrogen fuel cell car rental services to vehicle operating companies and terminal car companies to reduce the purchase cost and promotion difficulty;
Aiming at the multi-application scenarios of hydrogen energy, innovative hydrogen energy application products such as electric vehicle charging system and standby power generation system are jointly developed by using the hydrogen fuel cell system based on Hyundai Motor Group technology.
China has officially announced the environmental protection goal of "striving to achieve the peak of carbon dioxide emission by 2030 and carbon neutrality by 2060". Hydrogen energy has the advantages of good environment, strong safety, high energy density, high conversion efficiency and wide application range, and is an important breakthrough to deal with the energy crisis and achieve the goal of double carbon. At present, China has promoted the development of hydrogen energy to strategic energy planning, and the hydrogen energy industry has ushered in a period of great development opportunities.
Nexo expects to be imported and listed this year.
In the first half of 2022, Hyundai Motor Group sold 3.299 million vehicles worldwide, ranking third among global automobile companies. As a leader in the global automobile industry, Hyundai Motor Group has long been committed to advocating a clean society around the world. It is one of the earliest automobile companies in the world to develop hydrogen fuel cell vehicles. With a history of 24 years of research and development of hydrogen fuel cells, it is recognized as the world's top hydrogen energy technology strength. By September 2022, its hydrogen fuel cell SUV Nexo has sold more than 30,000 vehicles worldwide, making it the world's highest-selling hydrogen fuel cell vehicle.
20211/in October, Hyundai Motor Group signed an investment cooperation agreement with the Guangzhou Development Zone Government to establish Hyundai Motor Hydrogen Fuel Cell System (Guangzhou) Co., Ltd., and started construction of the Group's first overseas hydrogen fuel cell system R&D production and sales base-"HTWO Guangzhou" in February.
"HTWO Guangzhou" covers an area of 202,000 square meters. Upon completion, it will become a comprehensive base including hydrogen fuel cell stack production plant, hydrogen fuel cell system production plant, research and development center and innovation center, and expand and supply the world-leading hydrogen fuel cell system to the fields of automobiles, ships, rail transit and power generation.
In the future, with the strong support of Huangpu District and Guangzhou Development Zone Government, the three parties will seize the opportunity period of the fuel cell vehicle demonstration urban agglomeration policy, introduce superior resources to accelerate the business development of the joint venture company, and strive to promote more than 4,500 hydrogen fuel cell systems during the demonstration period to help the large-scale development of Guangzhou's hydrogen energy industry. Build a demonstration city group of fuel cell vehicles in Guangdong Province, realize the goal of "double carbon" in China, and jointly realize the hydrogen future of "high value development".
According to the "Hot List" data of Easy Car App, Hyundai (Import) ranks 75th among competing products at the same level, with an average daily attention of 45,700. For more data, please visit the Easy Car App.