Toyota Motor Corporation’s chairman, Akio Toyoda, is set to meet with Hyundai Motor Group’s chairman, Chung Euisun, in an upcoming meeting in Seoul. The purpose of this meeting is to discuss potential areas of collaboration between the two automakers, particularly in the development and production of hydrogen-powered vehicles.
This meeting marks Toyoda’s first trip to Seoul since 2012, and it comes as an invitation from Chung Euisun himself. Both Toyota Motor and Hyundai Motor Group have demonstrated strong capabilities in the hydrogen vehicle segment, including hydrogen fuel cell electric vehicles (FCEVs).
The main focus of the discussion will be on the establishment of a hydrogen ecosystem in key markets. As the world’s largest vehicle manufacturing group in 2019, with 11 million vehicles produced, Toyota Motor is well-positioned to contribute its expertise and resources in this area. Meanwhile, Hyundai Motor Group, ranking third after Volkswagen Group with 7 million units produced, brings its own strengths to the table.
While details about the meeting have not been disclosed publicly, it is expected to take place behind closed doors on October 25th. Following the meeting, a press conference may be held to share some insights about the potential collaboration.
The discussion between Toyota and Hyundai underscores the growing interest and investment in hydrogen-powered vehicles, which offer a promising alternative to traditional internal combustion engines. By joining forces, these automotive giants could accelerate the development and adoption of hydrogen technology, benefiting not only their own companies but also the global drive towards sustainable transportation.
Please note that the information provided here is for general informational purposes only and should not be considered as professional advice. Consultation with industry experts is recommended before making any business decisions.
FAQ Section:
1. What is the purpose of the meeting between Toyota Motor Corporation and Hyundai Motor Group?
– The purpose of the meeting is to discuss potential areas of collaboration between the two automakers, particularly in the development and production of hydrogen-powered vehicles.
2. When was the last time Toyota Motor Corporation’s chairman visited Seoul?
– This is his first trip to Seoul since 2012.
3. What is the focus of the discussion between Toyota and Hyundai?
– The main focus of the discussion will be on the establishment of a hydrogen ecosystem in key markets.
4. What expertise does Toyota bring to the table?
– As the world’s largest vehicle manufacturing group in 2019, Toyota is well-positioned to contribute its expertise and resources in the development of hydrogen-powered vehicles.
5. What expertise does Hyundai bring to the table?
– Hyundai Motor Group, ranking third in vehicle production after Volkswagen Group, brings its own strengths to the discussion.
6. When is the meeting expected to take place and will there be a press conference afterwards?
– The meeting is expected to take place on October 25th behind closed doors. It is possible that a press conference may be held afterwards to share some insights about the potential collaboration.
Definitions:
1. Hydrogen fuel cell electric vehicles (FCEVs): Vehicles that use hydrogen and oxygen to produce electricity, powering an electric motor to propel the vehicle. These vehicles emit only water vapor as a byproduct.
2. Hydrogen ecosystem: A system that includes the production, storage, distribution, and utilization of hydrogen as an energy source.
Suggested related links:
– Toyota Global
– Hyundai Worldwide