Shell and Hyundai extend tie-up, plan lubricants for electric vehicles

Shell PLC on Wednesday said it had renewed a partnership with Hyundai Motor Co Ltd, which has been in place since 2005.

The London-based oil major, has extended its tie-up with the Seoul-based car manufacturer for another five years, "building on two decades of shared success", in Shell's words.

The collaboration spans product development, engineering for motor sports and aftersales.

"The renewed five-year agreement means that Shell maintains its position as Hyundai Motor's recommended supplier of aftersales lubricants globally. Shell and Hyundai Motor will continue to work together to develop advanced lubricant technologies and support high-performance vehicle programmes.

"Additionally, the companies plan to expand collaboration on service marketing programmes designed to strengthen customer satisfaction and reinforce their leading position in key aftersales markets," Shell explained.

Under the partnership, the oil company will also help develop lubricants aimed at electric vehicles.

Lee Ming Seow, vice president of Global Key Accounts and New Business Development at Shell Lubricants, commented: "We are expanding our collaboration in next-generation e-fluids, thermal management, digital innovation, and high-performance mobility. By combining our expertise we will continue to develop solutions that enhance performance, efficiency, and sustainability for Hyundai Motor and our customers worldwide."

Hyundai shares closed 4.8% lower at KRW414,000 on Wednesday in Seoul. Shell was up 0.4% at 3,402.00 pence on Wednesday morning in London, with Brent crude trading slightly higher at USD91.8 a barrel.

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