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(LEAD) Hyundai Motor to co-chair global initiative for hydrogen development

2017/11/14 19:25

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SEOUL, Nov. 14 (Yonhap) -- Hyundai Motor Co., South Korea's top auto maker, said Tuesday it has been tapped to co-lead a global initiative to promote hydrogen as an alternative energy for transport and other industries.

The Hydrogen Council was launched in Davos, Switzerland, in January, with the aim of boosting investment in the development and commercialization of the hydrogen and fuel cell sectors.

During its second general meeting, which was held in Bonn, Germany, on Monday, the council elected Hyundai Motor to co-chair the council with France's Air Liquide, according to the South Korean company.

Citing a McKinsey report, the council said using hydrogen for transport and other industries could reduce carbon emissions by 6 billion tons every year and create 30 million new jobs by 2050.

The council, which kicked off with 13 member companies, now has 28 firms under its wing, including 18 steering members, it said.

In this photo taken in Bonn, Germany on Monday and provided by Hyundai Motor Co., Hyundai Motor Vice Chairman Yang Woong-chul (3rd from left) stands with other executvies from the auto industry after attending the 2nd annual Hydrogen Council meeting. (Yonhap) In this photo taken in Bonn, Germany on Monday and provided by Hyundai Motor Co., Hyundai Motor Vice Chairman Yang Woong-chul (3rd from left) stands with other executvies from the auto industry after attending the 2nd annual Hydrogen Council meeting. (Yonhap)

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