Statement concerning Hyundai Hydrogen Mobility business case in Switzerland

The recent Switzerland media reports about Hyundai and its partners might discontinue its initiatives for hydrogen ecosystem are totally groundless.

Hyundai Hydrogen Mobility will further execute and develop its business case of heavy duty fuel cell transportation with the existing network of partners in Switzerland.

Hyundai firmly believes that fuel cell mobility will play an essential role in decarbonizing the mobility sector, in which the trucks have already covered more than 5 million kilometers.

Further explanation

As incorrectly stated in some media, neither Hyundai nor any partner involved in the hydrogen ecosystem in Switzerland intend to stop the existing initiative.

The private-sector, non-subsidised case has been operating successfully for two years. In the meantime, the hydrogen trucks have covered more than 5 million kilometres in customer operation.

The unpredictable disruption in the energy market affects the availability and costs of electricity from sustainable energy sources. This includes the production costs of green hydrogen in the short and medium term. Nevertheless, all the players in the Swiss hydrogen ecosystem are fully committed to their goals to further expand and develop solutions to adapt the overall system to the new situation.

This means for all involved parties:

• Hydrogen production capacities will be further expanded. A new production plant will start operations in Eastern Switzerland before the end of the year.
• In Switzerland, eleven publicly accessible filling stations currently offer green hydrogen, and three more locations are about to start operations.
• Hyundai remains committed to the rollout in Switzerland and continues to offer hydrogen trucks to its customers. The expansion in other European countries continues as planned.

All partners and stakeholders in this hydrogen ecosystem firmly believe that hydrogen and fuel cell mobility are part of the solution to stop climate change, enable the energy transition and achieve the goals of “Net Zero”.