Hyundai Motor Group will strengthen its offensive in the Saudi Arabia hydrogen market by establishing a dedicated organization.
According to the automotive industry on the 16th, Hyundai Motor recently established the 'Saudi Hydrogen Mobility Ecosystem Construction TFT (Task Force Team)' under the HMG Energy & Hydrogen Business Division through an organizational restructuring.
Saudi Arabia is currently advancing "Vision 2030," a national development project aimed at diversifying its existing energy-centric industrial structure into manufacturing, hydrogen energy, and other sectors. Hyundai Motor Group has supported efforts to build the local hydrogen ecosystem, including the deployment of hydrogen fuel cell buses, in this process, and has newly launched the TFT to accelerate these initiatives.
A Hyundai Motor Group official stated, "We have established a dedicated organization to build the Saudi local hydrogen ecosystem and advance business operations, encompassing hydrogen supply, charging, and vehicle operation."
In 2024, Hyundai Motor signed a 'Memorandum of Understanding for the Introduction of Eco-friendly Future Mobility' with the NEOM project, which is being promoted by the Saudi sovereign wealth fund (PIF), and carried out a hydrogen mobility demonstration project.
In May last year, the group successfully conducted a test drive of the Universe FCEV (Fuel Cell Electric Vehicle) on the section connecting the central business district of NEOM and the highland area of 트Rosé나 located at an elevation of 2,080 meters, demonstrating the potential applicability of hydrogen mobility.
Hyundai Motor Group Chairman Chung Eui-sun also mentioned during a visit to Saudi Arabia in October last year, where he met with Saudi Crown Prince and Prime Minister Mohammed bin Salman, "We expect multi-faceted business cooperation in next-generation energy fields such as renewable energy, hydrogen, SMR (Small Modular Reactor), and nuclear power."
The head of the newly established TFT will be concurrently held by Vice President Hong Eun-hee, who was recently appointed as Head of the HMG Energy & Hydrogen Business Division.
Hong is an energy business expert from global energy company BP (formerly British Petroleum) and joined Hyundai Motor in August last year. She worked at P&G Korea and the Export-Import Bank of Korea before spending 18 years at BP, where she was responsible for business development and strategy formulation and execution in various energy fields including oil, LNG (Liquefied Natural Gas), hydrogen, and ammonia.
Meanwhile, Hyundai Motor Group has also newly established a 'GBC Integrated Platform Promotion TFT' under the GBC (Global Business Complex) Development Division through recent organizational restructuring.
The GBC is Hyundai Motor Group's new headquarters building, scheduled for completion in Seoul Samsung-dong in 2032. The TFT launched this time will be responsible for strengthening company-wide collaboration and execution systems for building the GBC integrated platform and realizing SDB (Software Defined Building).
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