Hyundai Motor, Audi Join Hands for Fuel Cell Technology

Hyundai Motor Group said Wednesday it signed an agreement with Audi AG to jointly develop electronics vehicles powered by fuel cell.

Under the multi-year agreement, Hyundai's affiliates including Kia and Audi's parent company Volkswagen AG will share components, supply chains and patent licensing. The duration of the partnership wasn't disclosed.

Hyundai, the world's fifth-largest automaker, began to mass produce fuel cell vehicles in 2013. But in South Korea and elsewhere, wider adoption of hydrogen fuel cell vehicles has been slow largely due to a dearth of refueling stations.

South Korea's government plans to add more hydrogen refueling stations to increase electronics vehicle sales and reduce carbon emissions.