Hyundai to launch dedicated FCEV brand, HTWO

HYUNDAI Motor Group (HMG) has announced another sub-brand, this time dedicated solely to the group’s hydrogen fuel-cell (FCEV) technology and its application to “various forms of mobility such as urban air mobility (UAM), automobiles, vessels and trains”.

Officially dubbed HTWO, the name of the new brand is reflective not only of its area of expertise – hydrogen (H2) – but also what HMG describes as the pillars of its fuel cell business; ‘Hydrogen’ and ‘Humanity’.

The announcement was made as HMG’s updated ‘Strategy 2025’ roadmap was outlined at the ‘2020 CEO Investor Day’ forum held in Seoul this week.

“With HTWO, Hyundai Motor is stepping up efforts for the development of a next-generation hydrogen fuel-cell system that can be applied to various forms of mobility such as UAM, automobiles, vessels and trains,” HMG said in a statement.

“Not only will the next-generation fuel-cell system be available for many different mobility products and services, it will deliver enhanced performance and durability at an affordable price in a lighter architecture with enhanced energy density.”

While HTWO will be a global brand, the initial focus will reportedly be on Korea, the United States, Europe and China which have been dubbed as ‘major hub regions’.

Plans for the new brand have been in place for some time now with the basic groundwork being outlined 12 months ago when the Strategy 2025 roadmap was first published.

At the time, then-HMG executive vice-chairman Euisun Chung said the Group was looking to be a global leader in FCEV technology, which it hopes to implement in a range of sectors not limited to automotive.

“In particular, in our fuel-cell electric vehicle business, where we boast the world’s top technological competitiveness, we will hit our stride by providing fuel-cell systems to customers not only in the automotive industry but also in other sectors,” he said.

“Furthermore, we will add momentum to expanding the hydrogen ecosystem and its infrastructure by cooperating with partners around the world.”

Speaking more broadly about the updated ‘Strategy 2025’, HMG president and CEO Wonhee Lee said 2020 had been a difficult year but despite this, the foundations for future success had been laid.

“Hyundai is now equipped with new strategies to respond to rapidly changing business environment,” he said.