Shell’s Downstream Director Huibert Vigeveno and Hyundai’s Chief Executive Officer Chang Jae-hoon hold hands after signing an MOU for partnership in electrification and carbon neutrality at Hyundai‘s US office. (Hyundai Motor)
Through this MOU, the South Korean auto giant hopes to actively promote its carbon-neutral goals and Shell hopes this serves as momentum for it to expand its green energy business.
The two companies agreed to cooperate in establishing infrastructures for EV charging, coming up with low carbon-emitting solutions, and in other major sectors such as hydrogen and digital.
They plan to utilize Shell’s gas station network to create more EV stations in Asia, where an anticipated surge of demand for EVs.
Shell currently has around 45,000 gas stations in around 80 countries.
Hyundai Motor and Shell plan to implement diverse new renewable energy solutions to turn all of their manufacturing facilities 100 percent renewable energy-dependent.
Shell will also review using Hyundai’s hydroelectric trucks and cars when it plans to change combustion engine vehicles used in its work fields across the world into environmentally friendly ones.
In the digital sector, both parties will be expanding diverse connectivity services including smart vehicle maintenance.
“Through cooperation with Shell, we hope to accomplish innovation in many environment-friendly businesses,” said an official from Hyundai Motor. “Using our strengths, we will expand the EV market and increase demand for renewable energies.”