Hyundai Motor Group Chairman Chung Eui-sun and Toyota Chairman Akio Toyoda convened at the final round of 2024 World Rally Championship held in Toyota Stadium in Aichi Prefecture, Japan, on Nov. 24, where Chung expressed interest in hydrogen collaboration.
"We are looking to work well together on hydrogen," Chung told the media after the meeting.
The two automakers, which hold the top two positions in global hydrogen vehicle sales with models such as Hyundai's Nexo and Toyota's Mirai, may plan to strengthen their cooperation in hydrogen infrastructure development.
Hyundai Motor has pledged to invest 11.1 trillion won (US$7.9 billion) in hydrogen vehicle and fuel cell development by 2030, while Toyota has been actively promoting hydrogen technology as its next growth driver following its success with hybrid vehicles.
The potential collaboration comes as global automakers face mounting pressure to reduce carbon emissions, with hydrogen vehicles emerging as a key alternative to electric vehicles (EVs) in the transition to sustainable transportation.
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