Hyundai, South Korean Government Opening Fuel-Cell Innovation Hub
February 10th, 2015 11:38 PM Share
Hyundai Motor and the South Korean government are coming together to open a hydrogen innovation center to help spur a creative economy.
Just-Auto says the automaker plans to attract startups to the center in Gwangju by granting access to 1,000 unused patents related to said technology:
The centre will focus on nurturing start-ups, providing key infrastructure and creating an “ecosystem” for the hydrogen economy by training workers and strengthening necessary networks.
Hyundai and its investor partners will raise ₩117.5 billion ($164 million USD) to bring the innovation center online, and will be one of 12 centers to be established throughout South Korea over 2015.
#GovernmentInvestments #Hydrogen #Hyundai #InnovationCenters #Patents #SouthKorea
Published February 11th, 2015 9:00 AM
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I wonder if Hyundai and Toyota have a problem with hybrids and electric cars? Maybe it's just a political play or do they really believe in fuel cell/hydrogen fuel?
Korea doesn't really believe in "start-ups!" There are the huge companies which build your house, car, credit card, loans, phone, and TV. Then there are individual businesses like convenience stores (under national brand name) or restaurants / coffee shops (having your own is common). But start ups in the tech, interesting ideas sense - not so much.
"Hyundai and its investor partners will raise ₩117.5 billion ($164 million USD)" Which most likely means Hyundai will pay next to nothing out of pocket, sounds almost like using a celebrity's name at a fundraiser. If FC takes off, they got some tech in their backyard, if not, they're not losing their shirt.
If Toyota did it then of course Hyundai has to try and do it...No surprise there.