Hyundai Motor Co. has announced on that it will invest in Germany’s H2 Mobility network of hydrogen fueling station operators as part of its efforts to promote infrastructure for fuel cell vehicles. Hyundai Motor’s German unit, which has been a participant in the project since 2017, will soon become the seventh stakeholder after receiving authorisation from Germany’s cartel office. The South Korean firm has not yet provided the financial information.
Hyundai has now joined a group of investors that includes Total, Shell, OMV, Linde and Air Liquide, as well as Daimler. Currently, a lot of money is going into the hydrogen segment in Germany, especially due to the European Union Green Deal and national support. The mass manufacture of fuel cell cars is still a long way off.
However, Hyundai, which is introducing hydrogen-powered trucks in Switzerland, believes that hydrogen technology will play a larger role in compact vehicles in the future. H2 Mobility has 91 hydrogen filling stations and is continuing to develop. Hyundai is Germany’s best-selling Asian automaker, with a 3.7 percent market share in January-July 2021, providing a mix of conventional, electric, and fuel-cell vehicles.
