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Hyundai Motor and Shell signed MOU for eco-friendly value chain

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Hyundai Motor is driving electrification and the transition to a carbon-neutral future through broad eco-friendly business collaboration with Shell, a prominent global energy corporation.

Hyundai Motor Company announced the signing of a memorandum of understanding with Shell for cooperative cooperation aimed at improving both firms’ competitiveness in the whole eco-friendly value chain.

Hyundai Motor is anticipated to contribute to the transition to an electrified business system and achieve carbon-neutral goals as a result of this MOU, while Shell is expected to gain momentum in expanding its green energy business as a result of this MOU.

“Through our collaboration with Shell, we intend to accomplish innovation in a variety of environmentally friendly business areas,” said Jae-Hoon Jang, president of Hyundai Motor Company. “We’re going to work together,” he stated.

EV Charging, Low-carbon Energy Solutions, Hydrogen, and Digital were chosen as major areas of cooperation by Hyundai Motor and Shell. chose to go along with it.

First and foremost, Hyundai Motor and Shell will begin a multi-faceted partnership to create the framework for global electric car distribution expansion.

In Asian nations where demand for electric vehicles is likely to grow fast, the business wants to leverage Shell’s gas station network (in parallel with charging electric vehicles) to boost charging infrastructure early and progressively extend the region. Shell has roughly 45,000 gas stations in 80 countries, making it the world’s number one in this industry.

The two firms aim to pursue numerous benefits in the European market, where a relatively big quantity of charging infrastructure has been created, to further boost charging convenience for drivers of premium brand Genesis electric vehicles.

As a result, Genesis and Shell’s electric car charging brand, Shell Recharge Solutions, have agreed to consider a formal MSP (Mobility Service Provider) collaboration agreement in important European markets such as Germany, the United Kingdom, and Switzerland independently.

A CPO installs, runs, and administers charging stations for electric car charging firms, whereas an MSP provides a charging subscription service.

Under a shared vision of RE100 and the need to achieve carbon neutrality, Hyundai Motor and Shell intend to actively grow the usage of renewable energy and reduce carbon emissions at each company’s business sites.

By adopting numerous innovative and renewable energy solutions from Shell, Hyundai Motor is speeding its objective of turning worldwide power production facilities to 100 percent renewable energy by 2045.

Shell has agreed to examine adopting Hyundai Motor’s hydrogen-electric trucks and battery electric cars when upgrading internal combustion engine vehicles used at corporate sites throughout the world to eco-friendly vehicles in the future.

Hyundai Motor Company and Shell also agreed in this MOU to intensify their collaboration to create the hydrogen ecosystem and extend the worldwide supply of hydrogen-electric vehicles (including hydrogen-electric trucks). Hyundai Motor America’s North American Headquarters (HMNA) and Shell had previously inked a commercial deal to establish 48 hydrogen charging stations in California, USA, in October of last year.

Finally, in the digital realm, we will work together to expand different connection services such as vehicle management and smart maintenance in order to improve the in-car user experience.

Meanwhile, Hyundai Motor is stepping up its investment in environmentally friendly transportation and energy solutions in order to achieve carbon neutrality in all of its products and companies by 2045, paving the way for a more sustainable future. It has declared, in particular, that it will increase the proportion of electrified models in completed automobiles sold worldwide to 30% by 2030 and to 80% by 2040.

Arnes Biogradlija
Creative Content Director at EnergyNews.Biz

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