Hyundai Motor Group signs MOU with EDB to advance low-carbon, hydrogen technologies
The group is currently exploring various potential collaborations with Singapore-based companies and start-ups
[SINGAPORE] Hyundai Motor Group (HMG) on Monday (Nov 3) signed an agreement with the Singapore Economic Development Board (EDB) to identify opportunities to develop low-carbon capabilities, which include hydrogen.
The venture builds on an existing partnership between the group and EDB through the Hyundai Motor Group Innovation Centre Singapore (HMGICS) – the first global open innovation hub and testbed of HMG.
The group is reaffirming its commitment to advancing hydrogen as a clean energy source through this initiative.
“We look forward to driving impactful solutions that demonstrate the potential of hydrogen as a cornerstone of global sustainability,” said Park Jaeha, vice-president and head of global hydrogen business sub-division at HMG.
On EDB’s part, it will facilitate HMG’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 advancement.
Zheng Jingxin, vice-president and head of mobility at EDB, said: “The collaboration is closely aligned to Singapore’s commitment to develop a low-carbon economy, by supporting companies on sustainable technology development. This will strengthen Singapore’s position as a global innovation hub within HMG’s global network.”
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The move is aligned with Singapore’s ambitions set out in the Green Plan 2030, as HMG now explores various potential collaborations with Singapore-based companies and startups.
This includes the potential use of Singapore’s pipeline network for efficient hydrogen distribution, in a bid to address logistical challenges and enhance resource efficiency.
The mid-to-long-term vision of HMG extends globally, as it looks to expand the clean hydrogen ecosystem by integrating eco-friendly energy businesses across neighbouring countries.
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