Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
SEOUL, South Korea (AP) — Hyundai Motor Group said Wednesday it signed an agreement with Audi AG to jointly develop electronics vehicles powered by fuel cell.
Under the multi-year agreement, Hyundai's affiliates including Kia and Audi's parent company Volkswagen AG will share components, supply chains and patent licensing. The duration of the partnership wasn't disclosed.
Hyundai, the world's fifth-largest automaker, began to mass produce fuel cell vehicles in 2013. But in South Korea and elsewhere, wider adoption of hydrogen fuel cell vehicles has been slow largely due to a dearth of refueling stations.
South Korea's government plans to add more hydrogen refueling stations to increase electronics vehicle sales and reduce carbon emissions.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
