Mubasher: State-run Saudi Aramco has signed a memorandum of understanding (MoU) with South Korean automaker Hyundai Motor Co. for cooperation on hydrogen energy.
The strategic partnership pact also includes the cooperation on advanced non-metallic materials and future technologies, according to Saudi Gazette.
“The collaboration of Hyundai and Saudi Aramco will accelerate progress toward a hydrogen-powered society by expanding access to a robust hydrogen infrastructure and hydrogen fuel-cell electric vehicles,” Hyundai Motor’s executive vice chairman Chung Euisun said.
The MoU will see both companies cooperating in establishing hydrogen charging infrastructure in South Korean and supply hydrogen fuel-cell electric cars in Saudi Arabia, Saudi Gazette revealed.
“The two companies will also team up to expand the adoption of non-metallic materials across a wide range of applications (in vehicles), including the use of carbon fibre and carbon fibre-reinforced plastic,” Saudi Aramco noted.
It is noteworthy that Saudi Aramco and its affiliates inked twelve agreements with leading companies in South Korea in a bid to foster cooperation with the East Asian nation.