- Hyundai Motor Group and AUDI AG enter into patent cross-licensing agreement in FCEVs
- Agreement covers existing patents as well as those filed over the years to come
- Hyundai Motor Group seeks new business opportunities in FCEV component industry
Hyundai Motor Group (the Group) and AUDI AG (Audi) announced they 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 world’s fifth-largest auto-making group and the German premium car maker will make joint efforts in developing FCEVs, to lead the automotive industry to a more sustainable future. 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 partnership between Hyundai Motor Group and Audi will leverage collective R&D capabilities in fuel cell technology to elevate their presence in the FCEV market.
Partnership beyond patent sharing
Hyundai Motor Group and Audi have also agreed to explore opportunities for a next step in their collaboration. This next step will aim to lead industry standards in fuel cell technology as well as accelerate FCEV development and spur innovation in this technology, providing more advanced mobility options to customers.
Alliance opens new doors for the Group’s fuel cell components business Hyundai Motor Group also plans to strengthen its competitiveness in the fuel cell components industry, engaging in new business opportunities created by the new partnership. Hyundai Mobis (Mobis), the leading FCEV’s components manufacturer of the Group, is expected to continuously expand its role for developing and supplying proprietary core components for Hyundai and Kia FCEVs.