Thad Ewald, Vice President – Corporate Strategy at Cummins, and Saehoon Kim, Vice President and Head of Fuel Cell Group at Hyundai Motor Group, sign a MOU on behalf of Cummins and Hyundai to collaborate on hydrogen fuel cell technology.
Business Wire
Hyundai Motor Company and Cummins announced Thursday that the two global manufacturers have entered a joint venture to develop and commercialize electric and fuel cell powertrains.
A combined news release from the companies said these new powertrains are expected to be developed by Hyundai's fuel cell systems with Cummins' electric powertrain, battery and control technologies. The initial development will be focused on the North American commercial vehicle market, including working with North American OEMs on the integration of these systems into their vehicles. The companies will also explore ways they can work together to develop next-generation fuel cell systems, and both Hyundai and Cummins have committed to assign a team of individuals to investigate and pursue other areas of collaboration.
“This partnership is a terrific opportunity for both companies to leverage our respective strengths and create new opportunities to grow and broaden the product portfolio we bring to our customers,” said Thad Ewald, vice president of corporate strategy at Cummins. “We’ve made significant investments over the past year to accelerate our fuel cell capabilities including our acquisition of Hydrogenics and this partnership is another step forward.”
“With Hyundai’s global leadership in fuel cell systems coupled with Cummins’ unparalleled electrified powertrain technologies, we expect this partnership to leave a mark in the commercial vehicle market,” echoed Saehoon Kim, vice president and head of fuel cell group at Hyundai Motor Group. “Collaborations such as this will enable us to further diversify our business, as well as reinforce our global hydrogen leadership through sales of new and existing Hyundai fuel cell systems.”
The news release stated that the new collaboration may extend beyond the commercial vehicle market, as the companies will also evaluate the development of fuel cell power generators.
