STOCK TITAN

Hyundai Motor Drives Sustainable Clean Logistics in U.S. with Vision for Hydrogen Society

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary

Hyundai Motor showcased its commitment to sustainable logistics and a hydrogen society at the ACT Expo 2024. The company introduced its U.S. hydrogen commercial vehicle business, featuring the Class 8 XCIENT Fuel Cell electric truck. Key milestones shared include the launch of HTWO Logistics, a partnership with GLOVIS America for zero-emission transport in Georgia, and the integration of ADAS into their trucks. Collaborations to test Level 4 autonomous driving technology were also highlighted. Hyundai's efforts include the NorCAL ZERO Project where 30 XCIENT trucks were deployed in California ports and the Clean Logistics Project in Georgia aimed at decarbonizing internal logistics operations.

Positive
  • Introduction of U.S. hydrogen commercial vehicle business featuring Class 8 XCIENT Fuel Cell electric truck.
  • Launch of HTWO Logistics in partnership with GLOVIS America for zero-emission transport in Georgia.
  • Integration of ADAS features in XCIENT Fuel Cell trucks.
  • Collaboration with Plus to test Level 4 autonomous driving technology on XCIENT Fuel Cell trucks.
  • Deployment of 30 XCIENT Fuel Cell trucks in the NorCAL ZERO Project at California ports.
  • Clean Logistics Project in Georgia to decarbonize Hyundai's internal logistics operations.
Negative
  • No specific financial data or projected revenue from the hydrogen initiatives were disclosed.
  • Potential high costs associated with implementing and maintaining hydrogen technology and infrastructure.
  • Risks related to the scalability and commercial viability of hydrogen fuel cell technology in the logistics sector.
  • Hyundai Motor joins its third straight Advanced Clean Transportation (ACT) Expo to share its hydrogen vision, HTWO, and introduce its U.S. hydrogen commercial vehicle business
  • At its press conference, Hyundai Motor shares its U.S. hydrogen commercial vehicle project milestones aimed at advancing hydrogen society
  • Hyundai Motor and GLOVIS America announce HTWO Logistics, a new clean logistics partnership focusing on zero-emission transportation in Georgia
  • The company previews a cabin enhancement concept and the addition of ADAS features for the Class 8 XCIENT Fuel Cell electric truck
  • Hyundai Motor and Plus collaborate to test Level 4 autonomous driving technology on XCIENT Fuel Cell truck
  • Fuel cell technology, digital exhibits of HTWO Grid and XCIENT Fuel Cell truck product enhancement concept on display at ACT Expo booth #530

LAS VEGAS and SEOUL, South Korea, May 21, 2024 /PRNewswire/ -- Hyundai Motor Company (Hyundai Motor) today shared its hydrogen vision and introduced its U.S. clean logistics business powered by the company's Class 8 XCIENT Fuel Cell electric truck at the Advanced Clean Transportation (ACT) Expo 2024.

The company is exhibiting the XCIENT Fuel Cell truck and fuel cell system, along with digital exhibits, demonstrating the vehicle enhancement concept and its hydrogen value chain technologies, from May 20–23 at the Las Vegas Convention Center. 

Building a hydrogen society roadmap

At Hyundai Motor's press conference, Ken Ramirez, Executive Vice President and Head of Global Commercial Vehicle and Hydrogen Business at Hyundai Motor, highlighted the company's commitment to building a hydrogen society. He spoke about the true value of hydrogen and how Hyundai Motor Group (the Group) is leveraging its affiliates' cross-industry capabilities spanning the entire hydrogen value chain — from hydrogen production and storage to logistics, transport and diverse applications — to realize the company's vision for a hydrogen society.

Earlier this year, Hyundai Motor announced a vision for the HTWO brand's expanding role in the hydrogen value chain, signaling that it will be the catalyst for a global energy transition. Hyundai Motor aims to realize its vision for a hydrogen society by leveraging the Group's integrated capabilities across various industries.

"Our HTWO brand's expanding role reflects Hyundai's unique reach beyond mobility into an integrated hydrogen value chain to lead the global energy transition," Ramirez said. "We are like no other energy company with roots deeply grounded in mobility - and we are like no other mobility company with branches so far reaching into energy. Our mission has always been clear: leverage our strengths in both mobility and energy sectors to realize our vision for a hydrogen society."

Joining the presentation, Jim Park, Senior Vice President and Head of Commercial Vehicle and Hydrogen Business Development at Hyundai Motor North America, detailed the company's rollout of its Class 8 XCIENT Fuel Cell electric trucks in key U.S. hydrogen logistics projects, including the NorCAL ZERO Project and Clean Logistics Project as further proof of the company's commitment.

Last year through the NorCAL ZERO Project, Hyundai Motor deployed 30 XCIENT Fuel Cell trucks at the Port of Oakland and Port of Richmond to haul freight containers and vehicles, marking the single largest commercial deployment of Class 8 heavy-duty hydrogen fuel cell electric trucks in North America. In Georgia, the company is working on the Clean Logistics Project at its Hyundai Motor Group Metaplant America (HMGMA), to decarbonize the company's production facility.

"This landmark port decarbonization initiative in California serves as a prime example of how hydrogen trucks are paving the way towards sustainable future logistics," Park said. "By replicating the success of NorCAL ZERO and tailoring it to specific customer needs, we at Hyundai aim to create a worldwide network of clean, hydrogen-powered operations."

Hyundai Motor is actively working to decarbonize its captive logistics through the Clean Logistics Project. This year, the company will take a significant step by deploying XCIENT Fuel Cell trucks to its facility in Georgia. This deployment will begin Hyundai Motor's efforts to reduce emissions from its internal logistics operations.

More information about Hyundai Motor and its products can be found at:

https://www.hyundai.com/worldwide/en/  or Newsroom: Media Hub by Hyundai .

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/hyundai-motor-drives-sustainable-clean-logistics-in-us-with-vision-for-hydrogen-society-302151168.html

SOURCE Hyundai Motor Company

FAQ

What is Hyundai Motor's new hydrogen initiative in the U.S.?

Hyundai Motor introduced its U.S. hydrogen commercial vehicle business, featuring the Class 8 XCIENT Fuel Cell electric truck and the launch of HTWO Logistics for zero-emission transport in Georgia.

What are the key features of the XCIENT Fuel Cell truck?

The XCIENT Fuel Cell truck includes cabin enhancements, ADAS features, and is part of Hyundai's strategy to decarbonize logistics through hydrogen technology.

What projects are Hyundai's hydrogen trucks involved in?

Hyundai's hydrogen trucks are part of the NorCAL ZERO Project in California and the Clean Logistics Project in Georgia.

How many XCIENT Fuel Cell trucks were deployed in the NorCAL ZERO Project?

Hyundai deployed 30 XCIENT Fuel Cell trucks in the NorCAL ZERO Project at the Port of Oakland and Port of Richmond.

What is HTWO Logistics?

HTWO Logistics is a new clean logistics partnership between Hyundai Motor and GLOVIS America focusing on zero-emission transportation in Georgia.

Hyundai Motor Company

OTC:HYMTF

HYMTF Rankings

HYMTF Latest News

HYMTF Stock Data

41.86B
159.88M
0.18%
Automobile Manufacturing
Manufacturing
Link
United States of America
Seoul