Hyundai Motor Group has signed a memorandum of understanding (MoU) with the Economic Development Board (EDB) of Singapore to identify opportunities to develop low-carbon technologies, including hydrogen.
The initiative builds on the existing partnership between Hyundai and EDB through the Hyundai Motor Group Innovation Center Singapore (HMGICS) – Hyundai’s first global open innovation hub and testbed.
Hyundai is exploring various potential collaborations with Singapore-based companies and startups, as well as the potential use of Singapore’s pipeline network for efficient hydrogen distribution, aiming to address logistical challenges and enhance resource efficiency.
“We are excited to collaborate with the EDB to explore new growth areas, including the development of low-carbon technologies,” said Jaeha Park, vice president and head of the global hydrogen business subdivision at Hyundai. “By bringing our cutting-edge expertise in hydrogen technology, this partnership represents a significant step forward in creating a clean-energy future for Singapore. We look forward to driving impactful solutions that demonstrate the potential of hydrogen as a cornerstone of global sustainability.”
EDB will facilitate Hyundai’s participation in relevant initiatives to build up and apply low-carbon technologies, including potential collaborations with local enterprises and innovation partners to drive technological advances.
“This MoU builds on the strong partnership between EDB and Hyundai Motor Group. The collaboration is closely aligned to Singapore’s commitment to developing a low-carbon economy by supporting companies in sustainable technology development. This will strengthen Singapore’s position as a global innovation hub within Hyundai Motor Group’s global network,” said Zheng Jingxin, vice president and head of mobility at the Singapore Economic Development Board.
Hyundai’s mid- to long-term vision extends globally, as it looks to expand the clean hydrogen ecosystem by integrating eco-friendly energy businesses across neighboring countries, focusing on sustainable energy solutions and advanced infrastructure.
In related news, Hyundai launches Elexio electric SUV in China