Hyundai Motor Company has signed a new five-year Global Business Cooperation Agreement with energy giant Shell. The agreement, which runs through 2026, marks the fourth extension of the partnership, with the new deal focusing on clean energy and carbon reduction.

Hyundai says it is looking to increase eco-friendly production and continue its transformation as a Smart Mobility Solution Provider. Shell will look to expand its role in providing Hyundai with cleaner mobility solutions.

The partnership will undertake cooperative projects, including a plan to establish new type of service channels specialised for mobility service providers, primarily in Asia. Both companies will also discuss cooperation schemes for energy supply business, such as EV and FCEV charging services.

There is a mutual commitment to leverage technology to deliver the energy transition, and the global cooperation agreement also maintains Hyundai’s recommendation for Shell lubricants across its global aftermarket network. The two companies run joint R&D programs including for the first-fill lubricants to meet

Hyundai’s specific engine requirements, which could extend for collaboration on e-Fluids development for EVs.

Source: Motor Trader e-Magazine (April 2021)

23 April 2021