New Delhi [India], April 22 : Hyundai Motor India Limited (HMIL) on Tuesday signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Ltd, India's largest energy company, to explore the viability for mass-use of Hydrogen fuel cell vehicles in India.
As part of the MoU, HMIL has handed over one Hyundai NEXO Hydrogen FCEV to IndianOil for conducting real-world tests on Indian roads.
During the two-year trial period, HMIL and IndianOil will evaluate longevity and
operational reliability over an estimated distance of 40,000 km.
A Total Cost of Ownership (TCO) assessment, including periodic maintenance, will also be conducted to provide critical insights into the long-term economic and environmental benefits of adopting hydrogen-powered vehicles for the Indian market.
Commenting on the MoU signing, Unsoo Kim, Managing Director, HMIL, said, "By signing a Memorandum of Understanding with Indian Oil Corporation, a pioneer in India's energy sector, we aim to combine world-class Hydrogen fuel cell technology with Indian expertise."
"Together, we seek to unlock the potential of Green Hydrogen as a transformative energy source making it accessible, affordable, and sustainable. We are confident this collaboration will serve as a critical step in demonstrating the potential of hydrogen as an alternate sustainable fuel source in the times to come," he said.
Commenting on the collaboration, Dr Alok Sharma, Director (R&D) and Board Member- IndianOil, said, "As India's largest public-sector energy entity, we at IndianOil are proud to be catalysts in the Government of India's vision to attain energy security and reduce fossil fuel imports. We believe Hydrogen fuel is a vital component of India's clean energy roadmap, and fuel cell technology holds immense potential in significantly aiding net carbon neutrality.
Sharma said that the collaboration with Hyundai Motor India will enable Indian Oil to conduct in-depth studies in fuel cell technology and advance efforts towards realising a greener mobility ecosystem.
In India, through this collaboration, HMIL and IndianOil aim to foster a hydrogen ecosystem, and accelerate a shared journey towards carbon neutrality, energy security and sustainable mobility, the release said issued by the automaker added.
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