Seeking to Preempt U.S. Hydrogen Vehicle Market
The Ministry of Trade, Industry and Energy has allowed Hyundai Motor Co. to export its hydrogen fuel cell technology to the United States and the European Union.
The ministry made the decision at a meeting of the Industrial Technology Protection Committee on April 20. Hyundai Motor’s hydrogen fuel cell system produces electricity using hydrogen. It is the core of Hyundai Motor’s hydrogen vehicle technology. Only a few companies such as Hyundai Motor and Toyota of Japan have the capability to design and manufacture hydrogen cars.
The ministry’s approval allows Hyundai Motor to combine its hydrogen fuel cell system with the motor technology of Cummins, a U.S. diesel engine manufacturer to lead the U.S. hydrogen vehicle market. The hydrogen vehicle market is projected to grow 57.1 percent a year in North America and 84.2 percent in the European Union until 2028.
Meanwhile, 69 technologies including the hydrogen fuel cell system are designated and managed as national core technologies. In order to export core technology developed with government support, the owner of the technology must receive approval from the Industrial Technology Protection Committee in accordance with the relevant laws.