Hyundai Motors, Shell inks MoU to drive the transition to clean mobility and carbon reduction
Hyundai Motor Company and Shell have announced a new strategic collaboration to explore ways to offer lower carbon emissions products and services and to reduce emissions across their operations.
Jaehoon Chang, President and CEO of Hyundai Motor Company, and Huibert Vigeveno, Shell's Downstream Director, signed a Memorandum of Understanding (MOU) in a ceremony held at Hyundai Motor America headquarters in Fountain Valley, California.
The MOU builds on a strong foundation of several years of collaboration and will draw on the companies' expertise in electric vehicle (EV) charging, hydrogen, low-carbon energy solutions, and digital technology as potential opportunities for both companies to reduce carbon emissions.
Areas of focus for the two companies will include:
- The selection of Shell Recharge Solutions as the Charge Point Operator (CPO) and Mobility Service Provider (MSP) for a premium brand, Genesis. Genesis drivers will be able to charge on the go, at home, and destinations with Shell. Initially focusing on the UK, Germany, and Switzerland, the ambition is to grow the partnership throughout Europe. Through this partnership, Genesis expects to meet its EV owner's needs seamlessly through the service, supporting its ambition for all new car models to be zero emissions by 2025 and 100 percent of the lineup by 2030. Shell also looks forward to consolidating its position as the leading charging provider.
- Pursuing combined EV network and service offerings in key markets including the US, Europe, and Asia.
- Providing integrated hydrogen solutions, where Hyundai Motor could provide fuel cell trucks and Shell offers hydrogen infrastructure for targeted fleet customers.
- Continuing Hyundai's participation in Shell's project to expand California's hydrogen infrastructure to meet increasing consumer demand for fueling options for vehicles like the NEXO SUV.
- Exploring opportunities to supply Shell renewable energy at Hyundai's business facilities and global plants to help Hyundai meet its RE100 targets for renewable electricity.
- Pursue digital projects using Shell's experience of in-car services, which may include vehicle management and smart maintenance.