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Hyundai Motor Group-Audi partner to develop fuel cell powered EVs
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SME Times News Bureau | 21 Jun, 2018
Automobile major Hyundai Motor Group on Wednesday said that it has
entered into a multi-year patent cross-licensing agreement with Audi AG,
covering a broad range of fuel cell electric vehicle (FCEV) components
and technologies.
According to a statement from Hyundai Motor
Group, under the new partnership, the world's fifth-largest auto-making
group and the German premium car maker will make joint efforts in
developing FCEVs, to lead the automotive industry to a more sustainable
future. "The cross-license agreement has been signed between
Hyundai Motor Company - the Group's flagship car-making unit - and Audi
but also covers and benefits both companies' affiliates, including but
not limited to Kia Motors Corporation and Audi's parent company
Volkswagen AG," the group said in a statement.
"Hyundai and
Audi, as well as their affiliates will equally share the patent licenses
over the years to come. The duration of the agreement has not been
disclosed."
As per the statement, the partnership between Hyundai
Motor Group and Audi will leverage collective "R&D capabilities in
fuel cell technology to elevate their presence in the FCEV market".
"As
a first step, Hyundai Motor Group will grant its counterpart the access
to parts that are based on Hyundai's know-how accumulated from the
development of ix35 Fuel Cell as well as NEXO," the statement said. "Audi
- responsible for the development of fuel cell technology within the
Volkswagen Group - will also be able to take full advantage of Hyundai's
FCEV parts supply chain."
Hyundai Motor Company holds the record
of being the first to mass-produce fuel cell vehicles. It has been
offering SUV-Class FCEVs since 2013.
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