![Hyundai Motor CEO Chang Jae-hoon, right, shakes hands with Huibert Vigeveno, downstream director of Shell. [HYUNDAI MOTOR]](https://retime.org/wp-content/uploads/2022/02/Hyundai-Motor-Shell-team-up-on-the-environment.jpg)
Chang Jaehoon, CEO of Hyundai Motor, shakes hands at Huibert Vigeveno from Shell’s downstream director. [HYUNDAI MOTOR]
Hyundai Motor and Royal Dutch Shell have signed a memorandum o’ understanding (MOU) to jointly pursue electric mobility with net zero carbon emissions.
Hyundai Motor stated in a Friday release that the MOU was intended to boost each company’s ability to compete in all aspects of green business value chain.
These companies will build electric vehicle (EV), chargers for Asia countries that are expected to experience rapid growth in EV demand. They will use Shell’s 45,000 fuel stations in over 80 countries.
Hyundai Motor will adapt Shell’s technologies to reach its goal of having all its global manufacturing facilities powered by renewable energy by 2045. This is part Hyundai Motor’s clean energy ambition. It aims at capturing 80 percent of global EV market share by 2040.
Shell will, under the MOU with Hyundai Motor, also consider using hydrogen-powered trucks from Hyundai Motor and battery-powered cars to its global worksites.
Last October, Shell Motor North America and Hyundai Motor North America reached an agreement to install 48 hydrogen chargers in California.
“We expect to achieve innovative in various environmentally-friendly businesses by working with Shell,” Chang Jaehoon, CEO at Hyundai Motor, stated Friday.
BY JIN EUN SOO [[email protected]]
