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Hyundai Motor Group, Georgia Institute of Technology Enter Multi-Year Partnership for Hydrogen Mobility Solutions

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Hyundai Motor Group, the parent of Hyundai Motor (KRX:005380) and Kia (KRX:000270), entered a multi-year partnership with the Georgia Institute of Technology to jointly develop hydrogen mobility solutions, according to a Thursday release.

The agreement is expected to advance hydrogen-powered transportation, boost applied research, and hasten the use of zero-emissions vehicles in Georgia, it said.

Under the partnership, Hyundai Motor North America will donate four NEXO fuel cell electric SUVs, and Hyundai Motor Group will donate a hydrogen electrolyzer project, which will be used exclusively on campus, the release said.

Shares of Hyundai Motor fell more than 3% in recent trade, while those of Kia fell over 2%.

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