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IGR - GOLD last won the day on October 23

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  1. This delivery represents the official introduction of Hyundai's commercial vehicles to the European market and marks a milestone in its expansion into the commercial markets of North America and China. "The delivery of the XCient Fuel Cell opens a new chapter not only for Hyundai's hydrogen boost, but also for the use of hydrogen as a clean energy source by the global community," said In Cheol Lee, Executive Vice President and Chief Executive Officer. Hyundai Motor's Commercial Vehicles Division. "This delivery is just the beginning as it opens up endless possibilities for clean mobility. With the successful delivery of the first XCient Fuel Cell trucks, we proudly announce our expansion plan beyond Europe to North America and China, where we are already making great progress. " The XCient Fuel Cell's production capacity will reach 2,000 units annually by 2021 to support its expansion in Europe, the United States and China as the demand for clean mobility grows. The increased capacity will be supported by a $ 1.3 billion investment, in addition to a previously announced $ 6.4 billion stake in establishing a hydrogen ecosystem to support the creation of a hydrogen society. In the United States, Hyundai is collaborating with logistics leaders to supply mass-produced heavy fuel cell trucks. Hyundai unveiled the HDC-6 Neptune Concept Class 8 fuel cell heavy truck at the North American Commercial Vehicle (NACV) Show in October 2019, giving a glimpse of what the future holds as well as Hyundai's plans. To support this plan, Hyundai is partnering with companies to build a complete hydrogen value chain that encompasses everything from hydrogen production and charging stations to service and maintenance. The North American market will also have a 6x4 tractor unit. By 2030, Hyundai expects more than 12,000 fuel cell trucks to hit US roads. Hyundai is also working with China, which aims to reach 1 million hydrogen vehicles on its roads by 2030, as the country's hydrogen industry is experiencing strong growth dynamics, offering great potential. Initially, Hyundai will focus on China's four major hydrogen hubs: Jin-jin-ji, the Yangtze River Delta, Guangdong Province and Sichuan Province. It is currently considering cooperative initiatives, such as a joint venture with local partners. Three fuel cell electric trucks are scheduled to launch in China: a medium tonnage truck in 2022, a heavy truck in a couple of years and another strategically designed heavy truck for the Chinese market. With these models, Hyundai's goal is to reach an aggregate sales volume of 27,000 units by 2030. A key driver for Hyundai's global expansion of fuel cell trucks will be the successful launch of XCient Fuel Cell in Europe. The seven customers who received the first batch of XCient Fuel Cell trucks will transport loads of consumer goods throughout Switzerland, emitting nothing but clean water. Operations will be supported by a robust green hydrogen ecosystem. In 2019, Hyundai Motor Company formed Hyundai Hydrogen Mobility (HHM), a joint venture with Swiss company H2 Energy. HHM has also partnered with Hydrospider, a joint venture of H2 Energy, Alpiq and Linde. Customers will rent XCient Fuel Cell trucks from HHM on a pay-as-you-go basis that does not require an initial investment. Hyundai will take its successful Swiss expertise to other European markets as Hyundai establishes solutions and a partner network in Germany, Norway, the Netherlands and Austria. As part of its production expansion plan, Hyundai expects to deliver 1,600 commercial fuel cell trucks by 2025. Currently, Coop, Migros, Traveco, Galliker Logistics, Camion Transport, F. Murpf AG and G. Leclerc Transport AG, among others, have placed orders for XCient Fuel Cell. They will use trucks to transport everything from food to cars throughout Europe. To support the growing hydrogen ecosystem, Hyundai has a business case for more than 100 hydrogen fueling stations in Switzerland, which is sufficient for both commercial vehicles and passenger fuel cell electric vehicles. Similarly, Hyundai plans to act as an industry connector to attract diverse players to the hydrogen value chain as part of its value-adding efforts. XCient is powered by a 190 kW hydrogen fuel cell system with two 95 kW fuel cells. Seven large hydrogen tanks offer a combined storage capacity of about 32.09 kg of hydrogen. The XCient's fuel cell range is around 400 km *, which was developed with an optimal balance between the specific requirements of prospective commercial fleet customers and the Swiss charging infrastructure. The recharging time for each truck is approximately 8 to 20 minutes. Hyundai will introduce a full model change for the XCient Fuel Cell to be installed on a dedicated hydrogen fuel cell truck bed in the coming years. The new model will feature an electric axle and two 200 kW fuel cell systems that are under development. The new model line will include 4x2 and 6x2 cargo trucks and 4x2 tractors that can cover a significant portion of Europe's leading heavy truck market. The 44-ton Tractor will have a range of up to 1,000 kilometers on a single charge. These models will help to replace pollutant emitting diesel trucks. Hyundai has been dedicated to further developing fuel cell technology and establishing the supply chain to achieve a "Hydrogen Economy" for a better and cleaner future, an effort that has been recognized around the world. Hyundai Motor's Hydrogen Mobility Solution won the “Truck Innovation Award” at the International Truck of the Year (IToY) last year and XCient FC won the Innovation Award in Hydrogen Power and Fuel Cell Technology at the 5th Forum of Shanghai, held in September this year. * The range is approximately 400 km on the 4X2 refrigerated truck + 34 ton trailer
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