Hyundai Motor Group and AUDI AG (Audi) have entered into a multi-year patent cross-licensing agreement, covering a broad range of fuel cell electric vehicle (FCEV) components and technologies.
Under the new partnership, the German car maker will make joint efforts in developing FCEVs, to lead the automotive industry to a more sustainable future. The partnership will leverage collective R&D capabilities in fuel cell technology to elevate their presence in the FCEV market.
The cross-license agreement has been signed between Hyundai Motor Company – the Group’s flagship car-making unit – and Audi but also covers and benefits both companies’ affiliates, including but not limited to Kia Motors Corporation and Audi’s parent company Volkswagen AG.
“Hyundai and Audi, as well as their affiliates will equally share the patent licenses over the years to come. The duration of the agreement has not been disclosed,” the company said.
Hyundai has been mass-producer of fuel cell vehicles and has been offering SUV-Class FCEVs since 2013, and currently sells them in 18 countries around the world.
“We are confident that the Hyundai Motor Group-Audi partnership will successfully demonstrate the vision and benefits of FCEVs to the global society,” said Euisun Chung, Vice Chairman at Hyundai Motor Company.