Hyundai Motor signed a new five-year Global Business Cooperation Agreement with Shell and will focus on developing clean energy solutions.
The signing ceremony was held online at Hyundai Motorstudio Goyang, Korea.
“This time around we will join forces to drive positive change with clean mobility solutions that benefit all,” said Un Soo Kim, Senior Vice President and Head of Global Operations Division of Hyundai.
The agreement, which runs through 2026, marks the fourth extension of the partnership, but this time with a new focus on clean energy and carbon reduction in proactive response to market changes.
“We believe we can best enhance Hyundai’s customer service experiences by tapping our EV charging expertise and our deep insights gathered from daily interactions with motorists at our 46,000 retail sites globally.” Said Carlos Maurer, Executive Vice President of Shell’s Global Commercial Business.
The partnership will undertake cooperative projects that reflect this new direction, including a plan to establish a new type of service channels specialized for mobility service providers, primarily in Asia.
Both companies will also discuss cooperation schemes for energy supply business, such as EV and FCEV charging services.
The global cooperation agreement also maintains Hyundai’s recommendation for Shell lubricants across its global aftermarket network.
The two companies run joint R&D programs including for the first-fill lubricants to meet Hyundai’s specific engine requirements, which could extend for collaboration on e-Fluids development for EVs.