Hyundai Motor Group Executive Vice Chairman identifies key steps to accelerate transition to hydrogen society
Hyundai Motor Group Executive Vice Chairman (EVC) and Hydrogen Council Co-chair Euisun Chung has identified three key steps to accelerate the transition to a hydrogen society during the Hydrogen Council’s third annual CEO Meeting in Paris, France.
EVC Chung opened the meeting stressing that there is “no shortcut to creating a future hydrogen society,” emphasizing that it is essential to establish detailed implementation plans for respective sectors and different stages of the industry’s development. To achieve this, the EVC recommended three key action items: reduce cost through technological innovation; create a comprehensive safety management system; and foster broad acceptance of hydrogen.
As a first step, Chung recommended achieving cost reductions through technological innovation in all sectors of the hydrogen industry. In order to fully tap hydrogen’s potential as the ultimate alternative to fossil fuel, new creative ways of lowering cost in a shorter time span must be sought across the entire value chain—including production, storage, distribution and application.
Chung also stressed the need to establish a comprehensive safety management system throughout the entire hydrogen value chain in order to convince the general public that hydrogen is completely reliable in terms of safety.
To further foster a broad acceptance of hydrogen, Chung underlined the need for governments and policymakers to advocate the inclusive benefits of hydrogen and promote the vision of a hydrogen society and the opportunities it will create. This is in line with the co-chair’s message as conveyed in a recent interview with Hydrogen Council, where he said the council will continue collaborating with regional and national hydrogen associations to analyze the current status of government policies, regulations and technologies, in turn providing viable technological solutions and policy suggestions.