Swiss H2 Energy and Hyundai to establish joint venture

To begin the joint venture’s operations, Hyundai Motor will deliver 1,600 fuel cell electric heavy-duty trucks to Hyundai Hydrogen Mobility from 2019 through 2025. The venture will then lease a large portion of these fuel-cell powered trucks to the H2 Mobility Switzerland Association, which comprises major refuelling station operators, transport and logistics companies, as well as to various other industry players that promote hydrogen mobility in Switzerland. Members include Agrola, Avia, Coop, Emil Frey Group, Migros and Shell.

The joint entity will further expand its market presence to other European countries beyond Switzerland.

Hyundai Hydrogen Mobility also plans to penetrate the hydrogen sales market through a subsidiary firm that produces and supplies hydrogen in Switzerland, with prospects for entering other European countries.

With the establishment of Hyundai Hydrogen Mobility, Hyundai expects to gain a foothold in Switzerland, where the demand for fuel cell trucks is expected to grow from a stiff nationwide road tax on diesel trucks, which incentivizes fleet operators of diesel trucks to switch to zero emission vehicles.

H2 Energy has industrywide capabilities throughout Switzerland’s hydrogen ecosystem, encompassing hydrogen production and supply, refueling stations, fuel cell vehicle procurement and other fields. The company also offers technical and consulting solutions, drawing on its engineering expertise, extensive infrastructure, solid market presence and close industrywide connections.

(Press release)