Hyundai Motor said it will be investing in H2 Mobility network of hydrogen fuelling station operators.
Already a partner in the project since 2017, the automaker’s German subsidiary will become a seventh shareholder shortly, it said, having gained approval from Germany‘s cartel office.
The financial details related to the deal haven’t been provided as of yet.
This move echoes the rising significance of hydrogen fuel cell technology.
“In Germany, a lot of money is flowing into the topic of hydrogen through the European Union Green Deal and national funding, and we believe that we are at the forefront,” said Ronald Grasman, vice president of fuel cell business development at the automaker.
“We are very pleased about our new shareholder,” said Nikolas Iwan, Managing Director of H2 Mobility. “By joining, Hyundai is underlining the rising importance of hydrogen as it guarantees unlimited, unrestricted mobility.”
H2 Mobility operates 91 hydrogen filling stations as of current. It describes itself as “responsible for establishing a nationwide hydrogen infrastructure in Germany. In fact, however, we are building a mobile future of rapid refueling, long ranges, clean and quiet mobility. “