Anglo-Dutch oil major Shell and automotive company Hyundai have come to a new agreement to cooperate over the next five years on developing alternatives to internal combustion engines with lower emissions.
The agreement builds upon the companies’ long-standing relationship, with them already cooperating in various development areas and lubricant research. For example, Shell, which has been the world’s leading lubricant supplier for the past 14 years, developed the first passenger car engine oil to meet Hyundai’s specifications for a first-fill lubricant. Shell also provides support for Hyundai Motorsport, the company’s team in the World Rally Championship. The new agreement will extend the collaboration to over two decades.
Hyundai’s Head of Global Operations Division and Senior Vice President, Un Soo Kim, said about the agreement:
“This time around we will join forces to drive positive change with clean mobility solutions that benefit all. With Shell, we will be securing our competitiveness within the automotive industry, continuing our transition as a smart mobility solution provider.”
The new collaboration will look at ways for Hyundai to enhance its eco-friendly production and develop its transition towards a provider of smart mobility solutions. Shell will also play a greater role in developing cleaner mobility solutions for Hyundai.
The companies will also initiate cooperative projects, with them intending to set up new service channels oriented towards mobility service providers. Shell intends to leverage its experience of electric vehicle charging from its 46,000 retail sites around the world, and it may well cooperate in developing e-fluids for Hyundai’s electric vehicles.