Hyundai Motor has entered into a memorandum of understanding (MOU) with Beijing-Tsinghua Industrial R&D Institute (BTIRDI) to jointly establish a ‘Hydrogen Energy Fund’.
Under this agreement, the South Korean automaker and its Chinese counterpart expect to strengthen their influence in the hydrogen (H2) ecosystem whilst accelerating the advent of a ‘Hydrogen Society’.
The Hydrogen Energy Fund will be jointly operated by Hyundai Motor and Yield Capital, BTIRDI’s investment firm, with a goal to raise a total of $100m. The fund aims to attract investments from leading venture capital firms based in China, Europe, and the US.
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