Akio Toyoda, Toyota's chairman, will visit Seoul for three days, according to undisclosed sources cited by The Korea Economic Daily. He'll arrive on October 24, meet with Hyundai's chairman Euisun Chung on October 25, and leave the next day. Chung invited Toyoda, and the Toyota boss said yes.
The car bosses will likely chat about hydrogen technology. They might discuss how to make fuel cell vehicles faster and create a "hydrogen ecosystem." Building refueling stations could also be on the table.
Car companies are teaming up more these days because the industry's going through tough times. Hyundai recently shook hands with GM, agreeing they might make cars together. Toyota's already working with BMW on hydrogen stuff. BMW's using Toyota's fuel cells in their iX5 hydrogen SUVs, and they're making new fuel cell tech together. BMW wants to sell its first hydrogen car by 2028.
Toyota's the top dog in global car sales, but their hydrogen car, the Mirai, hasn't been a hit. Company's chief technology officer, Hiroki Nakajima, admitted the zero-emission sedan has "not been successful" and that establishing a refueling network is "difficult to realize."
Hyundai's third in global sales when you count Kia and Genesis. Their hydrogen car, the Nexo, hasn't sold well either. But they're not giving up. They'll launch a new Nexo in mid-2025 and even make a sporty hydrogen car called the N Vision 74.
If Toyota and Hyundai team up, it could be a big deal for the car world. But we don't know yet what they'll decide or if they'll work on anything besides hydrogen.
Source: The Korea Economic Daily