Hyundai Motor Company in Goyang, Korea has signed a five-year global business cooperation agreement with Royal Dutch Shell to increase clean energy projects. The deal, which runs through 2026, marks the fourth extension of the partnership that began in 2006, but this time with a different “focus on clean energy and carbon reduction in response to market changes.”
The new agreement claims Hyundai is looking to increase “eco-friendly production and continue its transformation as a Smart Mobility Solution Provider.”
Shell will expand its role in providing Hyundai with cleaner mobility solutions. They will establish new type of service channels overseas and start to cooperate on energy supply business expansion into EV and FCEV charging services. They will also establish new type of service channels specialized for mobility service providers, primarily in Asia.
At the heart of Hyundai and Shell’s relationship is a mutual commitment to use technology to deliver the energy transition. The global cooperation agreement also maintains Hyundai’s recommendation for Shell lubricants across its global aftermarket network. The two companies run joint R&D programs including for the first-fill lubricants to meet Hyundai’s specific engine requirements, which could extend for collaboration on e-Fluids development for EVs.
Shell will continue to work with Hyundai Motorsport in the FIA World Rally Championship (WRC) competition, claimed to be a proving ground for development of advanced lubricants, as the Hyundai Shell MOBIS World Rally team goes for a second consecutive victory.