Nikola says open to cooperation with Hyundai Motor on hydrogen technology

SEOUL (Reuters) – U.S. electrical business truck maker Nikola NKLA.O mentioned it’s open to collaborating with Hyundai Motor (005380.KS) on hydrogen expertise, following a media report it had reached out to the Korean automaker. The Hyundai emblem is seen in the course of the first press day of the Paris auto present, in Paris, France, Oct. 2, 2018. REUTERS/Regis Duvignau

In an interview with South Korean newspaper Chosun Ilbo revealed on Sunday, Trevor Milton, founding father of Nikola Corp, mentioned he wish to cooperate with Hyundai. He mentioned he had twice made proposals to Hyundai that have been rejected.

Hyundai, together with Toyota Motor Corp (7203.T) are among the many few automakers championing hydrogen expertise.

“Trevor has immense respect for Hyundai and views Hyundai amongst the leaders in hydrogen around the globe,” Nikola spokeswoman Nicole Rose mentioned in an emailed assertion to Reuters.

“Trevor has, and can proceed to be, open to collaborate in the event that they ever select to take action,” Rose mentioned. She didn’t handle queries on whether or not Nikola had made proposals to Hyundai.

An individual aware of Hyundai mentioned that there aren’t any present cooperation talks between the 2 corporations. “If Nikola makes an official supply, Hyundai can think about the proposal,” the individual mentioned.

He mentioned that Hyundai needs to promote its hydrogen methods to different automakers, however on the identical time, Nikola may develop into a possible competitor to Hyundai’s business truck enterprise.

“It could be a sophisticated relationship,” he mentioned, declining to be recognized as a result of he isn’t authorised to talk to the media.

Hyundai declined to remark.

Hyundai Motor in July shipped the primary 10 items of the Hyundai XCIENT Gasoline Cell, the world’s first mass-produced gas cell heavy-duty truck, to Switzerland, with a objective to roll out a complete of 1,600 items by 2025.

In late 2018, Hyundai Motor Group mentioned it might drastically enhance its annual fuel-cell methods manufacturing capability to 700,000 items by 2030, together with 200,000 items to be bought to outdoors prospects, together with different automakers and producers of drones, vessels and forklifts.

Hyundai has partnered with Audi (NSUG.DE) on hydrogen automobile expertise.

Nikola has mentioned it plans to begin producing its battery electrical vehicles in 2021, adopted by its gas cell electrical vehicles in 2023.

Reporting by Hyunjoo Jin; Further reporting by Heekyong Yang; Enhancing by Jacqueline Wong

Our Requirements:The Thomson Reuters Trust Principles.

Credit score:Source link