Automotive firm Hyundai Motor Co. signed a Memorandum of Understanding (MOU) with a logistics firm Poh Tiong Choon Logistics Limited (PTC) with an aim to establish a hydrogen-based mobility in Singapore.
The newly build collaborated aligns with Singapore’s national strategy to develop hydrogen as a decarbonization pathway in logistics sector said Korean firm. The company also said to discover business opportunities related to the hydrogen ecosystem in Singapore
Hyundai said its objective is to combine their expertise, experience and resources to develop and build a hydrogen ecosystem with Singaporean logistics company, the firm also said to expand its footprints not just limiting to hydrogen-based mobility and in other areas too.
The collaboration focuses on exploring and developing projects to create a hydrogen ecosystem, commercial vehicles, and business models. The automotive maker owned Hyundai Motor Group Innovation Center Singapore (HMGICS) will be used for research and development process, the lab was officially opened on November 21.
Singapore-based PTC specializes in transportation, warehouse services and port leasing. The firm has been in this industry for about 70 years. PIC has introduced hydrogen mobility to transition to an eco-friendly logistics business.
Hyundai said partnered with various tech-based company Korea Automotive Technology Institute (KATECH), Air Products Qudra (APQ) and Saudi Public Transport Company (SAPTCO) to establish and develop an ecosystem for hydrogen-based mobility in the Kingdom of Saudi Arabia.
To read more on Technology, head to the link.
