Jim Ratcliffe, Britain’s richest man, is joining forces with Hyundai Motor Co. in a bid to give hydrogen fuel cell vehicles the boost they need to become more mainstream.
Ratcliffe’s Ineos Group will explore opportunities to produce and supply hydrogen to Hyundai, which has been making fuel cell vehicles in low volumes since 2013. Ratcliffe may also use Hyundai’s fuel cell system in the Grenadier, the Land Rover-like sport utility vehicle Ineos plans to bring to market next year.
Makers of cars and chemicals are finding common ground in their pursuit of hydrogen projects. Targets are being set globally to phase out the combustion engine and decarbonize industrial production.
