Does Hyundai's MoU With IOCL Indicate Nexo FCEV's India Launch?

Hyundai Motor India Limited (HMIL) has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) to explore the viability of using hydrogen fuel cell vehicles on a mass scale in the country. While this does not indicate that Hyundai is launching a hydrogen fuel cell electric vehicle (FCEV), it does hint that it might be on the cards. However, it is the older version of the car that will undergo the feasibility test.

As a part of the MoU, HMIL and IOCL will test the feasibility of this alternative fuel for a period of two years, evaluating the longevity and operational reliability of an FCEV covering a distance of around 40,000 km. For this, HMIL has given IOCL a Nexo FCEV.

Unsoo Kim, Managing Director, HMIL, said, “Together, we seek to unlock the potential of Green Hydrogen as a transformative energy source making it accessible, affordable, and sustainable. We are confident this collaboration will serve as a critical step in demonstrating the potential of hydrogen as an alternate sustainable fuel source in the times to come.”

Alok Sharma, Director (R&D) and Board Member, IOCL, said, “We believe Hydrogen fuel is a vital component of India’s clean energy roadmap, and fuel cell technology holds immense potential in significantly aiding net carbon neutrality.”

Despite showcasing the Nexo FCEV in India multiple times, Hyundai India has never committed to launching it in India. This does show a step in the right direction for Hyundai to either consider the Nexo FCEV or build a brand new hydrogen FCEV in India, for India.