• Hyundai Motor and UCL sign a memorandum of understanding (MOU) ahead of the UK-Korea Business Forum in London on November 22 with key leaders attending
• Hyundai Motor and UCL to conduct joint research on hydrogen production, fuel cells and electrification technologies, leveraging UCL's new Advanced Propulsion Lab
• Both parties look to achieve carbon neutrality by accelerating the establishment of a hydrogen economy and realizing a sustainable future mobility ecosystem

SEOUL, South Korea, Nov. 23, 2023 /PRNewswire/ -- Hyundai Motor Company today announced that it is partnering with the world-renowned University College London (UCL) to jointly research carbon-neutral future technologies.

(From left) Kemi Badenoch, Secretary of State for Trade and Business; Angharad Milenkovic, Vice-President (Advancement) UCL; Professor Nigel Titchener-Hooker, Dean of Engineering Sciences, UCL; Dr Michael Spence, President and Provost, UCL; Dongwook Kim, Executive Vice President, HMC; Moonkyu Bang, Minister of Trade, Industry and Energy of the Republic of Korea.

Hyundai Motor signed a memorandum of understanding (MOU) on 'Cooperation in areas of Research and Development for Hydrogen Production, Hydrogen Fuel Cells and Electrification Technology' with UCL at Mansion House in London on November 22.

The MOU signing ceremony took place prior to the UK-Korea Business Forum. In attendance were government officials from both countries, including Moon-kyu Bang, South Korea's Minister of Trade, Industry and Energy; and Nigel Huddleston, UK Secretary of State for International Trade; as well as Dong-wook Kim, Executive Vice President of Hyundai Motor Company; and Dr Michael Spence, President and Provost of UCL.

With both South Korea and UK aiming to achieve carbon neutrality by 2050, Hyundai Motor looks to accelerate the development of a hydrogen economy and realize a sustainable future mobility ecosystem through this MOU.

UCL is a prestigious research-oriented university that is consistently ranked at the top of global university rankings and has produced dozens of Nobel Prize and Fields Medal winners. "Through joint research with UCL, one of the UK's leading research universities, we will accelerate the pace of technological innovation in hydrogen production, fuel cells and electrification," said Jaehoon (Jay) Chang, President and CEO of Hyundai Motor Company. "We hope that this collaboration will contribute to achieving carbon neutrality in the transportation sector, which is a goal shared by Korea and the UK."

UCL President and Provost, Dr Michael Spence said, "New technologies, such as hydrogen generation, electric vehicles and fuel cells, are a fundamental part of international efforts to keep the global temperature rise within the goals set out in the Paris Agreement. This partnership will combine UCL's world-leading engineering research with Hyundai's expertise as one of the world's leading automotive companies to accelerate the development of these vital technologies."

Source: Hyundai Motor Company Related Stocks: Korea:005380 OTC:HYMTF