SEOUL, June 20 (Xinhua) -- South Korea's biggest automaker Hyundai Motor and German luxury carmaker Audi on Wednesday agreed to patent cross-licensing in fuel cell electric vehicle (FCEV) technology, covering existing patents and technologies to be developed over the coming years.
Hyundai and Audi signed the cross-licensing agreement to jointly develop a broad range of FCEV components and technologies, according to the joint statement by the automakers.
Technologies to be developed through the partnership will apply to Hyundai's affiliate Kia Motors and Audi's parent company Volkswagen.
Hyundai said the company, its affiliate and its German partners will equally share the patent licenses over the years to come, but it noted that the duration of the agreement has not been disclosed.
The partnership will help the two automakers leverage collective research and development capabilities in fuel cell technology, allowing Audi to gain access to Hyundai's know-how that has been accumulated from the development of its ix35 Fuel Cell and Nexo.
The Nexo is Hyundai's second-generation fuel cell electric vehicle. The South Korean automaker currently sells SUV-class FCEVs in 18 countries around the world.
"This agreement is another example of Hyundai's strong commitment to creating a more sustainable future whilst enhancing consumers' lives with hydrogen-powered vehicles, the fastest way to a truly zero-emission world," said Euisun Chung, vice chairman at Hyundai Motor.