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South Korean carmaker Hyundai Motor will partner Aramco. the biggest oil company in the world. on the “comprehensive“ development of hydrogen energy. sources told The Korea Herald on Wednesday.
A Hyundai official familiar with the matter said the two companies would sign a memorandum of understanding on hydrogen-related business in the presence of Saudi Arabia’s Crown Prince Mohammed Bin Salman and Hyundai Motor Group Executive Vice Chairman Chung Eui-sun.
The Saudi Prince visits Seoul on June 26-27. During his two-day visit. the prince plans to meet four conglomerate chiefs including Hyundai’s Chung and Samsung Electronics Vice Chairman Lee Jae-yong.
“With the momentum from the prince`s Seoul visit. Hyundai and Aramco will sign an MOU on the comprehensive development of hydrogen as energy.` said the Hyundai official.
“The area of partnership will probably include Hyundai’s fuel cell technology.`
Reports and sources have referred to hydrogen as a future business for Saudi’s Aramco.
On Monday. Aramco opened its first hydrogen fueling station in Dhahran Techno Valley. in the heart of the Kingdom’s oil producing region.
