This press release was issued by Hyundai Motor Group.

• Hyundai Motor Group signs Memorandum of Understanding with Singapore’s Economic Development Board to identify partnership opportunities in building up capabilities in low-carbon technologies such as hydrogen
• Collaboration reinforces Hyundai Motor Group’s commitment to advancing hydrogen technologies and supporting Singapore’s efforts to drive low-carbon hydrogen innovation

Hyundai Motor Group (the Group) has signed a Memorandum of Understanding (MoU) with the Economic Development Board (EDB) of Singapore to identify opportunities to develop low-carbon technologies, including hydrogen.

The initiative builds on the existing partnership between the Group and EDB through the Hyundai Motor Group Innovation Center Singapore (HMGICS), which is Hyundai Motor Group’s first global open innovation hub and testbed.

Recognizing Singapore’s ambitions set out in the Green Plan 2030, the Group is exploring various potential collaborations with Singapore-based companies and start-ups including the potential use of Singapore’s pipeline network for efficient hydrogen distribution, aiming to address logistical challenges and enhance resource efficiency.

Through this collaboration, the Group reaffirms its commitment to advancing hydrogen as a clean energy source.

EDB will facilitate HMG’s participation in relevant initiatives to build up and apply low-carbon technologies, including potential collaborations with local enterprises and innovation partners to drive technological advancement.

The Group’s mid-to-long-term vision extends globally, as it looks to expand the clean hydrogen ecosystem by integrating eco-friendly energy businesses across neighbouring countries. By focusing on sustainable energy solutions and advanced infrastructure, the Group continues to lead the way in hydrogen energy innovation, setting new benchmarks for global sustainability.