Signed a’hydrogen business cooperation business agreement’
Hyundai Motor Group and POSCO Group will join forces in the hydrogen business field.
Hyundai Motor Group and POSCO Group announced on the 16th that they have signed a’business agreement on cooperation in hydrogen business’ at POSCO Cheongsong University in Pohang.
POSCO Group Chairman Choi Jeong-woo, POSCO Steel Division Head Kim Hak-dong, POSCO Industrial Gas and Hydrogen Business Division Manager Yoo Byeong-ok, Hyundai Motor Group Chairman Eui-sun Eui-sun, Hyundai Motor Group Chairman Young-woon Kong, Hyundai Motor Company’s Strategic Planning Manager, and Park Jong-seong, Vice President of Hyundai Steel, attended the ceremony.
Through this agreement, the two companies agreed on △development of hydrogen energy utilization technology, △conversion of vehicles operated by POSCO steel mills to pollution-free hydrogen electric vehicles, and △ joint cooperation in hydrogen business.
First of all, regarding the development of hydrogen energy utilization technology, POSCO Group will develop green hydrogen manufacturing technology using ammonia. The Hyundai Motor Group is promoting POSCO Group’s fuel cell power generation business using green hydrogen.
At the same time, the two companies will continue to collaborate in the development and application research of next-generation materials for hydrogen vehicles based on POSCO’s world-class steel technology.
In addition, the two companies will gradually convert about 1,500 vehicles operating at POSCO’s Pohang and Gwangyang Works to Hyundai Motor’s pollution-free hydrogen electric vehicles.
Hyundai Motor Company plans to develop commercial hydrogen trucks, taking into account the characteristics of heavy-duty steel logistics, and POSCO plans to use by-product hydrogen produced at the steel mill as an energy source for hydrogen trucks. The two companies also agreed to cooperate with the construction of a hydrogen charging station for hydrogen trucks in the steel mill.
At the same time, the two companies will also collaborate on the hydrogen business that is being promoted individually.
Currently, POSCO Group’s by-product hydrogen production capacity and Hyundai Motor Group’s fuel cell business capabilities are combined to jointly develop the domestic hydrogen fuel cell power generation business. Overseas, they seek ways to participate in green hydrogen production projects together.
The two companies have collaborated in the hydrogen field by applying’Poss470FC’, the world’s first non-coated metal separator material for hydrogen vehicles, developed by the POSCO Group to Hyundai Motor’s’Nexo’. The two companies are expected to create greater synergy in the hydrogen business through this comprehensive agreement.
Meanwhile, the POSCO Group announced in December last year that under the vision of’a leading green hydrogen company leading the hydrogen economy’, it will establish a 5 million ton hydrogen production system by 2050 and achieve 30 trillion won in sales in the hydrogen business to lead the era of decarbonization. .
The Hyundai Motor Group has successfully launched the hydrogen electric vehicle Nexo and has proposed a goal of producing 500,000 hydrogen electric vehicles and 700,000 hydrogen fuel cell systems by 2030.
POSCO Group Chairman Choi Jeong-woo said at the agreement ceremony, “The POSCO Group currently has the capacity to produce 7000 tons
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