Towards a green revolution: Hyundai and Toyota embrace hydrogen
In a pivotal moment for the automotive industry and the environment, Hyundai has taken a significant step by entering a collaboration agreement set to advance the global hydrogen ecosystem. This groundbreaking partnership was established during the COP28 global climate summit in Dubai, which saw Hyundai join forces with influential entities such as South Korea’s Ministry of the Environment, Korea Water Resources Corp., the Global Green Growth Institute (GGGI), and SK E&S. This alliance marks a strategic undertaking to combat the ever-pressing challenge of climate change by accelerating the development of hydrogen technology.
Hyundai, a titan in the automotive realm, is harnessing its expertise to share knowledge and experiences of hydrogen technologies gathered from its South Korean operations. By providing case studies and advisory for hydrogen-based projects, Hyundai is placing itself at the forefront of this initiative. Moreover, the Global Green Growth Institute will compile an evaluation report derived from these case studies, offering a critical assessment of the progress and efficacy of the hydrogen technology implementations.
Central to Hyundai’s initiative is the promotion of “green” hydrogen, specifically through the “Waste-to-Hydrogen” method. This method is a shining example of innovation, utilizing biogas produced from organic waste to create clean hydrogen. Hyundai’s vision is to transform waste methane into hydrogen, setting a precedent for numerous eco-sustainable applications. The ambition is to establish a comprehensive hydrogen business model that envelops the entire value chain associated with this technology, from mini-production hubs to hydrogen-based industrial hubs. Not only does Hyundai intend to champion hydrogen as a fuel for vehicles, but it also aims to establish a distribution network featuring charging stations.
Collaboration is the linchpin of success in this endeavor, with each partner contributing its unique strengths. The Ministry of the Environment is set to back the distribution of hydrogen vehicles and the construction of charging stations, while Korea Water Resources Corporation will offer insights into the production and utilization of hydrogen. Meanwhile, SK E&S will be instrumental in promoting the liquefied hydrogen business model on a global scale.
Hyundai’s dedication to hydrogen technology is echoed by Toyota, another juggernaut in the auto industry, which is also taking bold strides in developing hydrogen technology, particularly in Europe. At the Kenshiki Forum, Toyota unveiled ambitious plans to expand the presence of hydrogen across the continent. The company is preparing to establish Hydrogen Factory Europe, a business operation tasked with spearheading the commercialization of hydrogen technologies and systems, encompassing a variety of applications from commercial vehicles to maritime transportation.
Toyota is poised to capitalize on the European development plan, which comprises a 45 billion euro fund alongside a dedicated 284 million euro infrastructure fund for the establishment of hydrogen refueling stations. These stations will be strategically positioned along the TEN-T corridors and are mandated to utilize a minimum of 42% sustainable energy sources by 2030.