Hyundai Motor Company And Poh Tiong Choon Logistics To Develop Hydrogen Ecosystem In Singapore

Hyundai Motor Company and Poh Tiong Choon Logistics Limited have entered into a Memorandum of Understanding (MOU) to create a hydrogen-based mobility ecosystem in Singapore. The agreement aims to foster the development and utilisation of hydrogen-powered vehicles in the region.

What’s this MOU about?

The MOU signing is in line with Singapore's national strategy to promote hydrogen as a means of decarbonisation. Through this agreement, Hyundai Motor Company will explore business prospects within Singapore's hydrogen ecosystem and form a collaborative partnership with Poh Tiong Choon Logistics Limited (PTC).

Hyundai Motor Company and Poh Tiong Choon Logistics Limited (PTC) are partnering to leverage their expertise, experience and resources for the comprehensive development of a hydrogen ecosystem in Singapore. This collaboration extends beyond hydrogen-based mobility and encompasses the entire process, from production to utilisation. The specific areas of cooperation outlined in the MOU include the exploration and development of projects related to the hydrogen ecosystem, commercial vehicles and various business models.

What is Hyundai Motor Group Innovation Center Singapore?

Hyundai Motor Group Innovation Center Singapore (HMGICS), inaugurated on 21 November 2023, is a smart urban mobility hub designed to function as an innovation lab. It is intended to assist Singapore in its aim to achieve 50% hydrogen usage in power generation by 2050.

Who is Poh Tiong Choon Logistics Limited?

PTC, a prominent logistics provider in Singapore, specialises in transportation, warehouse services and port leasing. With over 70 years of history in Singapore, originating in the 1950s, PTC has built a robust business network in the country. The company is keen on adopting hydrogen mobility as part of its commitment to transitioning to an eco-friendly logistics business.

---

Selling your car? Whatever the reason, caryousell@carousell, sell your car at the highest price today.