The two bosses will meet at the end of October
When powerful car manufacturers are increasingly looking to enter into partnerships and cooperate with each other, then we know that tough times have come for the automotive industry.
Hyundai has just signed a memorandum of understanding with General Motors, regarding the potential joint development and production of cars. However, it seems that the Korean brand is still looking for partners. In a new, interesting report, it is claimed that a collaboration between Hyundai and Toyota is in its infancy. At least that’s what an unnamed insider told The Korea Economic Daily.
The president of Toyota, Akio Toyoda, should fly to Seoul at the end of October. It is believed that he is visiting South Korea at the invitation of Yuisan Chang, the president of Hyundai. The report quoted a diplomatic source as saying, “President Chang expressed a desire to meet with the Toyota president earlier this year, and Toyoda accepted.”
Akio Toyoda will reportedly arrive in Seoul on October 24, but the meeting will take place the following day. The Toyota president is likely to fly home to Japan on October 26. Meanwhile, the Korean division of his company is making final preparations and “fine-tuning” for his three-day visit.
What will the two of them talk about? The Korea Economic Daily has obtained rumors that the main topic will be hydrogen. Hyundai and Toyota could work together to accelerate the development of fuel cells and the “hydrogen ecosystem”. It remains to be seen whether the latter item applies to refueling infrastructure, which is sorely needed if car companies really want to drive the adoption of hydrogen-powered vehicles.
Just over 1,000 stations were operational worldwide at the end of 2023, according to research conducted by Interact Analysis.
In its efforts to expand its hydrogen business, Toyota has partnered with BMW even earlier. The Bavarian premium brand’s hydrogen-powered iX5 fleet uses Toyota’s fuel cells. These two companies are jointly developing a new generation of fuel cell technology and are looking for partners in order to improve the hydrogen infrastructure.
Toyota has been selling the Mirai since 2014, despite weak demand. The chief technology officer, Hiroki Nakajima, admitted that the zero-emission sedan is “not successful” and that establishing a network of filling stations is “difficult to implement.”
The Hyundai Nexo is not a commercial hit either, but regardless, the arrival of the second generation of this hydrogen crossover has been officially confirmed, which should enter the scene in mid-2025. That’s not all, because this Asian brand recently announced the arrival of the eagerly awaited (serial) N Vision 74 sports car.
A collaboration between Toyota and Hyundai could be a big deal, since it is the largest car company in the world on the one hand, and the third largest on the other. That being said, it’s too early to tell if the two automotive behemoths will come to an agreement. It will be interesting to see if they will stick to hydrogen, or if they will have some other areas on the menu.
Source: Automotoshow.rs
Photo: Arhiva Autoblog.rs / Toyota / Hyundai
Source: autoblog.rs
