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The Korea Herald
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THE INVESTOR
March 29, 2024

Automobiles

Hyundai Motor heir touts hydrogen as ultimate clean energy

  • PUBLISHED :November 11, 2018 - 15:45
  • UPDATED :November 11, 2018 - 15:45
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[THE INVESTOR] Amid Hyundai Motor’s efforts to capitalize on its fuel cell electric vehicles, its Chief Vice Chairman Chung Eui-sun zoomed in on hydrogen energy as a key economic and social solution for clean mobility at a forum in Singapore last week, the company said on Nov. 11.

“The report (released by the UN) warns us that we must decrease global greenhouse gas emissions 45 percent below 2010 levels by 2030, in order to avoid a catastrophe. I sincerely believe without any shadow of doubt that hydrogen has a place as a central pillar to the clean energy transition,” Chung said at the opening speech of a discussion arranged by Hyundai at the inaugural Bloomberg New Economy Forum last week.

 

Chung Eui-sun



Citing the transportation sector as the first industry the carmaker is likely to target, Chung added, “But our commitments go beyond transportation, and we will make sure to send out the message that hydrogen can deliver economically viable, financially attractive, and socially beneficial solutions.”

The discussion dealt with creating an emissions-free society and sustainable development, led by President of the Royal Economic Society Nicholas Stern, and joined by Kim Sae-hoon, vice president of Hyundai Motor’s fuel cell group, CEO of Macquarie Group Asia Ben Way, and founder and managing partner of FutureMap Parag Khanna as panelists.

During the discussion, Macquarie Group Asia CEO Ben Way urged governments to adopt consistent policies for the market to gain confidence in renewable energy, ultimately to attract participation from members of the society and engineers in the transition to clean energy.

As the global automotive industry and governments search for clean mobility, Hyundai Motor has been trying to promote hydrogen cars as the ultimate eco-friendly transportation.

The firm launched the Nexo FCEV with 600 kilometers of driving distance at the CES 2018 in late January, offered test rides for the public to experience Nexo and the vehicle’s automation at the 2018 Pyeongchang Olympics, signed the Hydrogen Energy Fund with China’s Tsinghua Industrial R&D Institute last month, and forged partnership with Audi in hydrogen technology in late June, among other moves.

According to research firm IHS, the market size of hydrogen vehicles is projected to grow to 2.2 million units by 2030 from this year’s 50,000 units.

After attending the forum in Singapore, Chung flew to China, where he reportedly attended the first China International Import Expo in Shanghai, which Hyundai took part in to tap its Nexo FCEV and high performance N brand in the world’s biggest auto market.

During President Moon Jae-in’s state visit to France last month, Hyundai Motor inked a memorandum of understanding with French industrial gas supplier Air Liquide and French electric utility company ENGIE to increase the number of hydrogen chargers there and to ship 5,000 units of FCEVs by 2025, the company said. 

By Kim Bo-gyung/The Korea Herald
(lisakim425@heraldcorp.com)

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