Hyundai Motor, Partners Ink Deal to Deploy 480 Hydrogen Buses

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Hyundai Motor (KRX:005380) has signed a multilateral agreement with transport operator Sunjin Group and industry partners to deploy 480 hydrogen buses by 2032, the South Korean automotive company said Wednesday.

Under the deal, Sunjin Group will convert existing compressed natural gas stations at its Gimpo and Paju depots into hydrogen refueling facilities. Hyundai Motor will supply the vehicles and provide maintenance training, while partners including Hynet will build and operate the high-capacity charging infrastructure.

Shares of Hyundai Motor fell over 2% in recent trade.

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