South Korea will begin testing hydrogen-powered cargo trucks via a two-year pilot program to utilize environment-friendly vehicles beyond passenger transportation.
Based on the memorandum of understanding (MOU) between the Ministry of Trade, Industry, and Energy and private firms, five 10-ton capacity cargo trucks will use hydrogen fuel cells to deliver goods between logistics centers in Gyeonggi Provinces and North Chungcheong and through 2022.
Hyundai Motor Co., Hyundai Glovis Co., and CJ Logistics Corp. were the private firms involved in the test run.
South Korea hopes that the pilot project would be followed with the manufacturing of hydrogen-powered cargo trucks in 2023.
In line with its green energy policy, South Korea has been exploring new possibilities in the field of hydrogen fuel cell vehicles.
The new energy drive could also open new business opportunities for local carmakers.
Under the country's blueprint, hydrogen buses running on streets would be increased from 35 units in 2019 to 40,000 units by 2040.
South Korea also hopes to raise the number of hydrogen fuel cell taxis from 10 units last year to 80,000 units by 2040.


Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment
Instagram Outage Disrupts Thousands of U.S. Users 



