SINGAPORE: Hyundai Motor Group (HMG) has signed a memorandum of understanding (MoU) with Singapore’s Economic Development Board (EDB) to explore new opportunities in developing low-carbon technologies, including hydrogen, aligned with Singapore’s Green Plan 2030.
The initiative builds on the group’s existing partnership with EDB through the Hyundai Motor Group Innovation Center Singapore (HMGICS), its first global open innovation hub and testbed.
According to HMG’s press release on Monday (Nov 3), EDB will facilitate HMG’s participation in relevant initiatives to develop and apply low-carbon technologies, including potential collaborations with local enterprises and innovation partners.
HMG may use Singapore’s pipeline network for efficient hydrogen distribution to address logistical challenges and enhance resource efficiency, it added.
Zheng Jingxin, Vice President and Head of Mobility of Singapore’s EDB, said the collaboration is closely aligned to Singapore’s commitment to develop a low-carbon economy.
The group plans to expand the clean hydrogen ecosystem globally by integrating eco-friendly energy businesses across the region. /TISG
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