SEOUL, Feb. 25 (Korea Bizwire) — Hyundai Motor Co. said Friday it has signed an initial pact with Shell Plc for cooperation in electrification and carbon neutrality.
Last week, Hyundai Motor signed a memorandum of understanding with Shell, Europe’s biggest oil firm, to collaborate on electric vehicle charging infrastructure, hydrogen fuel-cell electric vehicle supplies, and low-carbon energy solutions, the company said in a statement.
“The partnership is part of the companies’ drive to diversify their business portfolios for growth in the upcoming era of EVs,” a company spokesman said.
Hyundai and Shell will establish EV chargers at the latter’s gas stations initially in Asian countries as local demand for EVs is on the rise, the statement said.
Shell, Europe’s biggest oil company, runs 45,000 gas pumps in 80 countries. Hyundai Motor is South Korea’s biggest carmaker.
Hyundai plans to adopt Shell’s renewable energy solutions to help achieve its aim to shift to renewable energy sources in most of its production facilities by 2045.
Shell has a plan to purchase Hyundai’s hydrogen fuel-cell trucks and battery-powered vehicles if the partnership goes as planned.