AUTONEWS

Hyundai and Shell form strategic partnership

Hyundai and Shell embark on a new strategic collaboration to explore ways to offer products and services with lower carbon emissions.

Jaehoon Chang, President and CEO of Hyundai Motor Company, and Huibert Vigeveno, Downstream Director at Shell, signed a Memorandum of Understanding (MOU) at a ceremony held at Hyundai Motor America's headquarters in Fountain Valley, California.

The MOU builds on a solid foundation from several years of collaboration and will leverage the companies' experience in electric vehicle (EV) charging, hydrogen, low-carbon energy solutions and digital technology as potential opportunities for both companies. companies to reduce carbon emissions.

“Through this collaboration, we see ample opportunities for the transformation of our respective businesses and identify promising synergies that will enable Hyundai Motor and Shell to thrive as they transition to future mobility and clean energy solutions. Through our joint efforts, we will pursue strategic alliance initiatives designed to achieve common goals such as carbon neutrality,” said Jaehoon Chang - President and CEO of Hyundai Motor Company

“Strategic collaborations like this will be instrumental in the world's transition to cleaner energy. To succeed, we will have to enter new growth markets and work on a scale we've never seen before. This agreement is the latest example of how we work with our customers to help them accelerate their carbon emissions reduction plans,” said Huibert Vigeveno - Downstream Director at Shell.

Areas that the two companies will focus on include:

-The selection of Shell Recharge Solutions as Recharge Point Operator (CPO) and Mobility Service Provider (MSP) for the premium brand, Genesis. Genesis model drivers will be able to recharge anywhere, at home and at destinations with Shell. In principle, the association will focus on the United Kingdom, Germany and Switzerland, but the aim is to expand it to the whole of Europe. Through this association, Genesis hopes to meet the needs of its electric vehicle owners seamlessly through the service, supporting its goal of getting all new car models zero emissions by 2025 and 100% of the range by 2030. Shell also expects to consolidate its position as a leading recharge provider.

-Pursuing a combined electric vehicle network and service offering in key markets such as the United States, Europe and Asia.

-Provide integrated hydrogen solutions, where Hyundai Motor will be able to provide fuel cell trucks and Shell will provide hydrogen infrastructure for specific fleet customers.

-Continue with Hyundai's participation in Shell's project to expand California's hydrogen infrastructure to meet growing consumer demand for fueling options for vehicles such as the NEXO.

-Exploring opportunities to supply Shell's renewable energy at Hyundai's global commercial facilities and plants to help it meet its RE100 renewable electricity targets.

-Consider opportunities where Hyundai could supply fuel cell trucks to Shell's operations, and potentially expand battery electric vehicles in Shell's fleets.

-Pursuing digital projects utilizing Shell's expertise in automotive services, which can include vehicle management and smart maintenance.