The group is currently exploring various potential collaborations with Singapore-based companies and start-ups
[SINGAPORE] Hyundai Motor Group (HMG) on Monday (Nov 3) has signed an agreement with the Singapore Economic Development Board (EDB) to identify opportunities to develop low-carbon capabilities, which include hydrogen.
The venture builds on an existing partnership between the group and EDB through the Hyundai Motor Group Innovation Centre Singapore (HMGICS) – the first global open innovation hub and testbed of HMG.
The group is reaffirming its commitment to advancing hydrogen as a clean energy source through this initiative.
“We look forward to driving impactful solutions that demonstrate the potential of hydrogen as a cornerstone of global sustainability,” said Park Jaeha, vice-president and head of global hydrogen business sub-division at HMG.
On EDB’s part, it will facilitate HMG’s participation in relevant initiatives to build up and apply low-carbon technologies, including potential collaborations with local enterprises and innovation partners to drive technological advancement.
Zheng Jingxin, vice-president and head of mobility at EDB, said: “The collaboration is closely aligned to Singapore’s commitment to develop a low-carbon economy, by supporting companies on sustainable technology development. This will strengthen Singapore’s position as a global innovation hub within HMG’s global network.”
SEE ALSO
The move is aligned with Singapore’s ambitions set out in the Green Plan 2030, as HMG now explores various potential collaborations with Singapore-based companies and start-ups.
This includes the potential use of Singapore’s pipeline network for efficient hydrogen distribution, in a bid to address logistical challenges and enhance resource efficiency.
The mid-to-long-term vision of HMG extends globally, as it looks to expand the clean hydrogen ecosystem by integrating eco-friendly energy businesses across neighbouring countries.
