Hyundai Motor President and CEO Jaehoon Chang Announced as New Co-Chair of Hydrogen Council

BRUSSELS and SEOUL, South Korea, June 18, 2024

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.