Hyundai Motor Company and Shell plc (Shell) are embarking on a new strategic collaboration to explore ways to offer lower carbon emissions products and services and to reduce emissions across their operations.
Jaehoon Chang, President and CEO of Hyundai Motor Company, and Huibert Vigeveno, Shell’s Downstream Director, signed a Memorandum of Understanding (MOU) in a ceremony held at Hyundai Motor America headquarters in Fountain Valley, California.
The MOU builds on a strong foundation of several years of collaboration and will draw on the companies’ expertise in electric vehicle (EV) charging, hydrogen, low carbon energy solutions and digital technology as potential opportunities for both companies to reduce carbon emissions.
“Through this collaboration, we see ample opportunities for the transformation of our respective businesses and have identified promising synergies that will allow Hyundai Motor and Shell to thrive during the transition to future mobility and clean energy solutions,” said Jaehoon Chang, President and CEO of Hyundai Motor Company. “Through our joint endeavors, we will pursue strategic alliance initiatives designed to achieve common goals, such as carbon neutrality.”
Huibert Vigeveno, Shell’s Downstream Director added “Strategic collaborations like this will be fundamental in the world’s transition to cleaner energy. To succeed we will have to break into new growth markets and work at a scale we have not seen before. Today’s agreement is the latest example of how we work with our customers to help accelerate their carbon emission reduction plans”.
Areas of focus for the two companies will include:
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