Major Contract between SGL Carbon and Hyundai Motor Group

December 09 2019

SGL Carbon and the Hyundai Motor Group have agreed on an early extension to the existing supply agreement for fuel cell components. The long-term agreement provides now for a substantial ramp-up of current production and delivery volumes of gas diffusion layers for the NEXO fuel cell car to support Hyundai’s objectives in the area of fuel cell drives. The investment required to fulfill this contract will not increase the overall capital expenditure budget of SGL Carbon in the next two years, as the company has reprioritized its investment projects.

In the medium-term, SGL Carbon plans to more than quintuple its business with fuel cell components to annual sales of approximately 100 million euro.

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