SEOUL, November 22, 2023 – Hyundai Motor Company today announced that it is partnering with the world-renowned University College London (UCL) to jointly research carbon-neutral future technologies.
Hyundai Motor signed a memorandum of understanding (MOU) on ‘Cooperation in areas of Research and Development for Hydrogen Production, Hydrogen Fuel Cells and Electrification Technology’ with UCL at Mansion House in London on November 22.
The MOU signing ceremony took place prior to the UK-Korea Business Forum. In attendance were government officials from both countries, including Moon-kyu Bang, South Korea’s Minister of Trade, Industry and Energy; and Nigel Huddleston, UK Secretary of State for International Trade; as well as Dong-wook Kim, Executive Vice President of Hyundai Motor Company; and Dr Michael Spence, President and Provost of UCL.
With both South Korea and UK aiming to achieve carbon neutrality by 2050, Hyundai Motor looks to accelerate the development of a hydrogen economy and realize a sustainable future mobility ecosystem through this MOU and continued research and development of eco-friendly technologies.
UCL is a prestigious research-oriented university that is consistently ranked at the top of global university rankings and has produced dozens of Nobel Prize and Fields Medal winners. Notably, UCL is a leader in hydrogen-related technologies and has recently strengthened its capabilities in automotive electrification research with the establishment of the Advanced Propulsion Lab in 2023.
“Through joint research with UCL, one of the UK’s leading research universities, we will accelerate the pace of technological innovation in hydrogen production, fuel cells and electrification,” said Jaehoon (Jay) Chang, President and CEO of Hyundai Motor Company. “We hope that this collaboration will contribute to achieving carbon neutrality in the transportation sector, which is a goal shared by Korea and the UK.”
UCL President and Provost, Dr Michael Spence said, “New technologies, such as hydrogen generation, electric vehicles and fuel cells, are a fundamental part of international efforts to keep the global temperature rise within the goals set out in the Paris Agreement. This partnership will combine UCL’s world-leading engineering research with Hyundai’s expertise as one of the world’s leading automotive companies to accelerate the development of these vital technologies.”
Realizing carbon neutrality through hydrogen production, fuel cells and electrification
Hyundai Motor and UCL will jointly research future mobility technologies to realize carbon neutrality in the fields of hydrogen production, fuel cells and electrification. They also expect research collaboration on advanced materials, proprietary technologies and basic industrial technologies to be possible.
Hyundai Motor also aims to strengthen collaboration with UCL on joint carbon reduction research projects, building on the company’s commitment to achieve carbon neutrality by 2045.
To this end, Hyundai Motor plans to sell only zero-emission electrified vehicles by 2040 in major markets, starting with Europe in 2035, and will replace 100 percent of the electricity demand of its global operations with renewable energy by 2045.
As the world’s first company to commercialize a fuel cell electric vehicle (FCEV) and make practical use of hydrogen energy, the company also is promoting the establishment of a hydrogen ecosystem and planning a Hydrogen Business Toolbox in partnership with Hyundai Motor Group affiliates.
The Hydrogen Business Toolbox is a hydrogen business model in which the entire lifecycle is organically connected to achieve supply chain carbon neutrality. It encompasses the application of eco-friendly parts, such as green steel, the introduction of an eco-friendly logistics system using hydrogen energy, and the sale of FCEVs. The company plans to implement the Hydrogen Business Toolbox in the future, particularly within Hyundai Motor Group Metaplant America (HMGMA).
Furthermore, Hyundai Motor has undertaken diverse initiatives, including collaboration with Poh Tiong Choon Logistics (PTCL), a logistics company based in Singapore, to establish a hydrogen mobility ecosystem. Hyundai Motor has also engaged in the development of hydrogen-electric city buses and large vans in partnership with Iveco Group, a global commercial vehicle company, while introducing the XCIENT Fuel Cell electric heavy-duty truck in several markets and actively participating in air quality improvement projects in California.
