Seoul/Singapore, [Date] – Hyundai Motor Company has inked a momentous Memorandum of Understanding (MOU) with Poh Tiong Choon Logistics Limited (PTC) to pave the way for a comprehensive hydrogen-based mobility ecosystem in Singapore.
This collaborative agreement aligns seamlessly with Singapore’s national strategy to embrace hydrogen as a pivotal component in its decarbonization journey. The MOU sets the stage for Hyundai Motor Company to explore business prospects within Singapore’s hydrogen ecosystem and establish a collaborative partnership with PTC.
In a concerted effort, Hyundai Motor Company and PTC, a prominent logistics service provider based in Singapore, will leverage their collective expertise, experience, and resources to foster the development of a holistic hydrogen ecosystem. The collaboration, extending beyond hydrogen-based mobility, will encompass various facets from production to utilization. Key areas of focus, as outlined in the MOU, include the exploration and development of projects spanning hydrogen ecosystems, commercial vehicles, and innovative business models.
The Hyundai Motor Group Innovation Center Singapore (HMGICS), inaugurated on November 21, will function as a dynamic innovation lab supporting Singapore’s ambitious target of achieving 50 percent hydrogen usage in power generation by 2050.
With a legacy spanning over 70 years, Poh Tiong Choon Logistics (PTC) is a pivotal logistics player in Singapore, engaged in transportation, warehouse services, and port leasing. Known for its robust business network, PTC, rooted in the 1950s, expresses a keen interest in embracing hydrogen mobility to transition toward eco-friendly logistics operations.
Hyundai Motor Company, recognized as a global leader in driving energy transition, solidifies its commitment to advancing hydrogen-based mobility ecosystems worldwide. This recent MOU follows Hyundai Motor Group’s earlier announcement in October, where it entered into a similar agreement with key entities in Saudi Arabia to establish a hydrogen mobility ecosystem in the Kingdom.
Since its introduction in 2020, Hyundai’s XCIENT Fuel Cell truck has made strides in six countries, accumulating over five million miles. Noteworthy as the only heavy-duty fuel cell electric model with a proven track record in real-world applications, the XCIENT underscores Hyundai’s dedication to championing clean and efficient energy technologies on a global scale.
These strategic initiatives underscore Hyundai Motor Group’s dedication to pioneering the adoption of clean and efficient energy technologies worldwide, positioning Hyundai Motor Company to supply hydrogen fuel cell commercial vehicles to SAPTCO, leveraging its technological expertise and a track record of successful global deployments in the hydrogen fuel cell industry. Stay informed about the latest developments in the hydrogen market at Hydrogen Central.