Hyundai Motor Company has announced that it has signed a new five-year Global Business Cooperation Agreement with Shell for clean mobility. The agreement, which runs through 2026, marks the fourth extension of the partnership, which began in 2005.
The partnership will commence cooperative projects comprising a plan to establish new types of service channels specialized for mobility service providers, predominantly in Asia.
Both the companies will also discuss cooperation schemes for energy supply business, such as EV and FCEV charging services, the company statement added. The signing ceremony was held online at Hyundai Motor Studio Goyang, Korea.
“This time around we will join forces to drive positive change with clean mobility solutions that benefit all,” Un Soo Kim, senior vice president and head of global operations division of Hyundai Motor Company, said.
“With Shell, we will be securing our competitiveness within the automotive industry, continuing our transition as a smart mobility solution provider,” he added.
At the heart of Hyundai and Shell’s wide-ranging relationship is a mutual commitment to leverage technology to deliver the energy transition, the company said in a declaration.
The global cooperation agreement also upholds Hyundai’s recommendation for Shell lubricants across its global aftermarket network. The two companies run joint R&D programmes including for the first-fill lubricants to meet Hyundai’s specific engine requirements, which could extend for collaboration on e-Fluids development for EVs.
Carlos Maurer, executive vice president of Shell’s global commercial business, said, “We believe we can best enhance Hyundai’s customer service experiences by tapping our EV charging expertise and our deep insights gathered from daily interactions with motorists at our 46,000 retail sites globally.”