Hyundai invests in hydrogen technology companies

Hoping to accelerate the widespread adoption of hydrogen technology by making fuel cell electric vehicles (FCEVs) more accessible, Hyundai Motor Company is investing in three hydrogen firms.

The South Korean carmaker announced yesterday it was investing in Impact Coatings, H2Pro and GRZ Technologies for fuel cell, hydrogen production and hydrogen storage technologies.

The strategic investments come at a time of heightened demand for fuel cell technology and Hyundai said it hopes the collaboration with industry leading players will enable it to expand its hydrogen infrastructure and enhance the efficiency of its FCEV manufacturing.

“Our investment in these innovative companies will reduce the production cost of FCEVs and enhance the safety and affordability of hydrogen infrastructure,” said Youngcho Chi, President and Chief Innovation Officer at Hyundai Motor Group.

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