A South Korean multinational automotive manufacturer, Hyundai Motor has recently signed the agreement with a German automobile manufacturer Audi for the development of the fuel cell technology. Both the companies plan to cross-license patents and grant access to non-competitive components. Hyundai’s partners such as Audi’s parent company Volkswagen AG, Kia will share components, patent licensing, supply chain under the multi-year agreement signed on Wednesday.
Sources stated that both the companies are exploring collaboration on the development of this sustainable technology. The other information such as duration of the partnership wasn’t disclosed.
Short refueling and long ranges are the principle reasons why automakers feel that hydrogen is an appealing future wellspring of vitality for electric portability. The key aspects of fuel cell technology for its future market success include the establishment of a sufficient infrastructure as well as the regenerative production of hydrogen.
Chief Executive Officer of Tesla and SpaceX, Elon Musk has said that automaker gravitated away from the technology in recent years, however, the science behind hydrogen cars that emit only water vapor.
Hyundai became the world’s fifth-largest automaker to mass-produce fuel cell vehicles in 2013. Even, South Korea’s organization intends to add more hydrogen refueling stations to expand gadgets auto deals and lessen carbon emissions.