Hyundai and General Motors previously signed a deal to collaborate on electric vehicle development. Now, it appears that the South Korean auto giant is also planning to expand its cooperation with Japan’s largest automaker, Toyota.
According to The Korea Economic Daily, Toyota’s chairman, Akio Toyoda, will travel to Seoul, South Korea, to meet with Hyundai’s chairman, Euisun Chung, in October. While the details of the meeting have not been disclosed, the two are expected to discuss collaboration on developing hydrogen-powered vehicles and building a “hydrogen ecosystem.”
If Toyota and Hyundai successfully join forces, both brands will need to address the infrastructure issue of hydrogen fueling stations. According to a study by Interact Analysis, there were just over 1,000 hydrogen refueling stations worldwide as of the end of 2023.
Toyota and Hyundai may also discuss electric vehicle and battery technology to keep up with competitors, particularly those from China.
Toyota has recently been certified to produce next-generation EV batteries, and the Japanese auto giant could learn from Hyundai in this field. On the other hand, Hyundai has announced that it is ramping up production of hybrid vehicles, a segment where Toyota leads the market.
The collaboration between the two could be a significant agreement in the automotive industry, especially considering Toyota’s top position and Hyundai’s (along with Kia and Genesis) third place in global sales. However, it remains uncertain whether these giants will reach an agreement.
Recently, Toyota and BMW also announced a partnership to develop fuel cell systems and promote the hydrogen-powered vehicle industry. The jointly developed powertrain will be used by both Toyota and BMW in their respective FCEV models.
TT (Tuoitrethudo)
References: Autoindustriya, Motor1
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