Hyundai and Audi team up on hydrogen fuel cell technology

Hyundai and Audi have reached a deal that will allow the two to share their hydrogen car technology, Reuters reports. Both companies will have access to the other's intellectual property and they'll share components, with the goal being to push hydrogen fuel cell-powered vehicles into the mainstream. So far, they've lagged behind battery EVs, which are currently cheaper and benefit from more charging stations.

Other automakers have made similar arrangements in the past. GM and Honda teamed up in 2013, going in on a fuel cell factory together last year. GM also recently started supplying Honda with its next-generation batteries. Toyota and BMW have also agreed to work together on green vehicle technology. Last year, Toyota, Honda and Nissan partnered with a handful of industrial firms in order to bring more hydrogen refuelling stations to Japan.

Hyundai and Audi's deal is a multi-year cross-licensing agreement and includes affiliates like Kia and Audi's parent company Volkswagen. "This agreement is another example of Hyundai's strong commitment to creating a more sustainable future whilst enhancing consumers' lives with hydrogen-powered vehicles, the fastest way to a truly zero-emission world," Euisun Chung, vice chairman of Hyundai Motor Company, said in a statement. "We are confident that the Hyundai Motor Group-Audi partnership will successfully demonstrate the vision and benefits of [fuel cell electric vehicles] to the global society."