Faurecia wins Major Supply Deal from Hyundai for Hydrogen Storage Systems

Faurecia, which is one of the leading automotive suppliers in the world has announced that it has won a major supply contract from Hyundai Motor Company. The company has reached a deal with the Korean vehicle manufacturer for the supply of fuel cell electric vehicle storage systems for heavy duty trucks.

Faurecia will be in charge of the supply of hydrogen storage systems (including 10,000 hydrogen tanks). The storage systems will be manufactured at Faurecia’s global center of expertise in Bavans, France which is dedicated to hydrogen storage systems. Delivery of the systems is scheduled to commence in 2021.

Over a period of four years, Faurecia will supply fuel systems for about 1,600 Hyundai heavy duty trucks. These trucks after being fitted with these storage systems will be delivered to Hyundai Hydrogen Mobility in Switzerland. This company is a newly created partnership venture between Hyundai and H2 Energy. The company was established with the goal of spearheading hydrogen mobility in Europe.

Commenting on the deal, Patrick Koller, CEO of Faurecia said that fuel cell electric vehicle technology is expected to play a significant role in the powertrain mix within the next ten to fifteen years, especially in the case of commercial vehicles. Koller said that Faurecia is investing heavily in optimizing the potential of hydrogen fuel cell technology and creating the best-in class ecosystem to accelerate its deployment.

Koller concluded by saying that this deal with Hyundai as well as the joint venture that Faurecia has created with Michelin to offer a unique range of hydrogen fuel cell systems marks a major step in its commitment to emerge as a leader in fuel cell systems.

Fuel-cell electric vehicles offer an attractive and complementary alternative to battery electric vehicles. The range and refueling time of fuel-cell trucks should be equivalent to diesel ones whilst being completely emissions-free. By 2030, it is estimated that 2 million new vehicles of which 350,000 commercial vehicles will be equipped with fuel cell technology.