NEWS COMMENTARY

Hyundai Motor and SK Group form "hydrogen alliance"; major plans unveiled to promote blue hydrogen, hydrogen infrastructure, and FCEV

Published:
March 15, 2021
Coverage:
Owning the Energy Transition More...
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Very important

Hyundai Motor and SK Group pledged to strengthen their collaboration in line with South Korea's Hydrogen Economy Roadmap 2040. SK plans to invest $4.7 billion by 2025 to produce 250,000 tons per year of blue hydrogen from LNG, powering Hyundai's FCEVs. The two parties will work to install hydrogen chargers at SK gas stations, and Hyundai will supply FCEVs to SK in large numbers. Compared to previous hydrogen initiatives launched by each side individually, such as Hyundai-Posco hydrogen steel mills and SK's $1.5 billion investment in Plug Power, the new partnership may bolster the hydrogen market more directly. Clients in the mobility and petrochemical industries should engage with each other to plan the future hydrogen economy together.

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