SGL Carbon & Hyundai Extend Agreement for Fuel Cell Component Used in Automotive
SGL Carbon and the Hyundai Motor Group have announced an agreement on an early extension to the existing supply agreement for fuel cell components. The long-term agreement provides now for a substantial ramp-up of current production and delivery volumes of gas diffusion layers for the NEXO fuel cell car to support Hyundai’s objectives in the area of fuel cell drives. The investment required to fulfill this contract will not increase the overall capital expenditure budget of SGL Carbon in the next two years, as the company has reprioritized its investment projects. Greenest Energy Technology “ The extension of the partnership with Hyundai is perfectly aligned to our strategic direction. Intelligent solutions in the area of sustainable energy are one of the key growth drivers for our company ,” explains Dr. Michael Majerus, Spokesman of the Board of Management of SGL Carbon. “ Whether used in a drive system in vehicles or as a stationary power supply, the fuel cell is one of t