Hyundai Motor President and CEO Jaehoon Chang Announced as New Co-Chair of Hydrogen Council
Hyundai Motor President and CEO Jaehoon Chang has been appointed as the new Co-Chair of the Hydrogen Council, alongside Sanjiv Lamba, CEO of Linde. Chang takes over from Yoshinori Kanehana of Kawasaki Heavy Industries.
Hyundai has been a pioneer in hydrogen technology, with noteworthy achievements such as the first mass production of fuel cell electric vehicles (FCEVs) and heavy-duty hydrogen-powered trucks. At CES 2024, Hyundai announced plans to expand its hydrogen fuel cell brand, HTWO. Recently, Hyundai's XCIENT trucks achieved a cumulative driving distance of 10 million km in Switzerland.
Chang's new role aims to promote the global hydrogen economy, emphasizing international trade and investment. This appointment underscores Hyundai's ongoing commitment to advancing hydrogen technology and the energy transition.
- Jaehoon Chang appointed as Co-Chair of the Hydrogen Council, potentially elevating Hyundai's influence in the hydrogen sector.
- Hyundai leads in hydrogen technology with the first mass production of FCEVs and hydrogen-powered trucks.
- XCIENT Fuel Cell trucks surpass 10 million km in Switzerland, showcasing reliability.
- Expansion plans for HTWO, covering hydrogen production, storage, transportation, and utilization.
- Consistent reinforcement of Hyundai's leadership in hydrogen at global events like CES 2024 and ACT Expo 2024.
- The PR lacks specific financial data or clear metrics on the profitability or revenue impact of the hydrogen initiatives.
- No immediate business outcomes or key performance indicators (KPIs) are reported for recent hydrogen technology investments.
- Potential shareholder dilution or financial risks from ongoing and extensive investment in hydrogen technologies are not addressed.
- Hyundai Motor President and CEO Jaehoon Chang appointed as Hydrogen Council Co-Chair, building on Hyundai Motor Group's legacy as key Council member
- President and CEO Chang to actively engage in activities to promote the global hydrogen economy and propose solutions for future energy transition
Together, the two Co-Chairs will work closely with Hydrogen Council member CEOs as the organization enters its next chapter, focused on unlocking the potential demand for a global hydrogen economy and creating a framework for international trade and accelerated investment.
President and CEO Chang takes over from Yoshinori Kanehana, Chairman of Kawasaki Heavy Industries, Ltd., who served as Co-Chair for the past two and a half years. His appointment follows Hyundai Motor Group Executive Chair Euisun Chung, who led the Council from January 2019 to July 2020.
Hyundai and its Commitment to Hydrogen
Hyundai Motor has been dedicated to the development of hydrogen technologies since establishing a Fuel Cell research and development division in 1998.
Through continuous investment and research, Hyundai Motor has strengthened its leadership in the hydrogen sector, including:
- The independent development of a fuel cell stack in 2004
- The world's first mass production of a Fuel Cell Electric Vehicle (FCEV), the Tucson ix35 FCEV, in 2013
- Mass production of the NEXO, the first dedicated FCEV, in 2018; and the world's first mass production of XCIENT Fuel Cell, heavy duty hydrogen-powered truck, in 2020.
At CES 2024, Hyundai Motor revealed its plans to expand HTWO, the brand for its hydrogen fuel cell system. Originally introduced in 2020, HTWO encompasses the entire hydrogen value chain business for the Hyundai Motor Group, covering production, storage, transportation, and utilization.
In May, Hyundai Motor shared its hydrogen vision and introduced its
As President and CEO of Hyundai Motor Company, Jaehoon Chang has been actively engaged in activities to promote the creation of a hydrogen economy and to propose practical solutions for future energy transition. In his new role as Co-Chair, he will discuss global hydrogen energy demand and closely cooperate with CEOs of the Hydrogen Council's member organizations to accelerate global trade and investment.
"The Hydrogen Council is a crucial initiative in our global energy transition effort," said Jaehoon Chang, President and CEO of Hyundai Motor Company. "I am delighted to be appointed as Co-Chair and I look forward to working with fellow hydrogen leaders to drive innovation and advance deployment."
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SOURCE Hyundai Motor Company
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