[THE INVESTOR] Hyundai Motor said on Sept. 20 that it has signed an initial agreement with Swiss hydrogen company H2 Energy to provide 1,000 fuel cell electric trucks.

The deal with the European company will mark the world‘s first full-fledge commercialization of zero-emission trucks, the carmaker said.

Under the memorandum of understanding, the two sides will provide the heavy-duty fuel cell trucks and an adequate supply chain for renewable hydrogen from 2019 through 2023.

Hyundai said the fuel cell electric truck is under development to meet European regulations. It said the fuel cell electric vehicle can travel about 400 kilometers on a single charge in real-life driving conditions.

Hyundai Motor Executive Vice President Lee In-cheol, who heads the commercial vehicle division said Hyundai is advancing the field of fuel cell technology with the announcement of its ambition to commercialize the fuel cell electric truck for the first time in the world.

“We will continue to seek opportunities for expanding into other markets by carefully monitoring multiple factors, such as fueling infrastructure and governmental policies,” Lee said in a signing ceremony at the IAA Commercial Vehicles, an international exhibition for commercial vehicles, in Hanover.

Hyundai said it plans to diversify its fuel cell electric commercial vehicle lineup to meet growing opportunities. Currently, Hyundai is developing a medium-sized fuel cell electric truck for public services, such as cleaning.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)