Iveco To Partner With Hyundai On Fuel Cells For Hydrogen Buses In Europe

Truck and bus maker Iveco Group said on Wednesday it would partner with Hyundai Motor's HTWO to equip its future hydrogen-powered buses in Europe with fuel-cell systems designed by the South Korean group hydrogen mobility brand.

Iveco and Hyundai earlier this year signed a preliminary deal to explore collaboration on shared vehicle technology, joint sourcing and mutual supply.

Iveco did not provide financial terms of the collaboration.

The head of Iveco's bus business unit Domenico Nucera said the company planned to produce more than 3,000 zero- and low-emission buses in the coming years, starting from 2023, in its plant in the city of Foggia, in southern Italy.

"If the market feedback is positive, our aim is to proceed with an annual rate of 1,000 units," he said.

Last month Iveco said it planned to restart bus production in Italy after more than a decade, taking advantage of funds from the EU-funded Recovery Plan to develop a fleet of low-emission public transport vehicles.

The group also said on Wednesday it signed a memorandum of understanding with U.S.-based shared mobility company Via, for possible future cooperation in public transport and digital services for buses.

Iveco is controlled by Exor, the holding company of Italy's Agnelli family, which in 2020 bought a 9% stake in Via Transportation, a U.S.-based shared mobility company.

(Reporting by Giulio Piovaccari, editing by Giulia Segreti and Jason Neely)