Baker McKenzie advised Hyundai Motor Deutschland GmbH on becoming a shareholder in the hydrogen infrastructure company H2 MOBILITY. This makes Hyundai Motor Deutschland GmbH the first shareholder outside of the circle of founding members: Total, Shell, OMV, Linde, Air Liquide, and Daimler.
This move reinforces the company’s commitment to hydrogen fuel cell technology by supporting the expansion of the infrastructure necessary to power its fuel cell electric vehicles (FCEVs). Financial details were not disclosed.
Baker McKenzie advised Hyundai Motor Deutschland GmbH on all legal aspects of the transaction.
"The transaction is a huge success for our client as well as for us. Combining Hyundai Motor's experience in hydrogen fuel cell systems and H2 MOBILITY’s years of hydrogen infrastructure development, this partnership will empower Hyundai Motor to make significant headway toward creating a clean hydrogen ecosystem", comments Thomas Gilles, lead partner of the transaction.
H2 MOBILITY Deutschland GmbH & Co. KG is responsible for the nationwide development of a hydrogen infrastructure in Germany, primarily to supply passenger cars with fuel cell drive systems (700 bar technology). The initial goal is to operate 100 stations in seven German metropolitan regions (Hamburg, Berlin, Rhine-Ruhr, Frankfurt, Nuremberg, Stuttgart and Munich) as well as along truck roads and motorways. H2 MOBILITY will take on all tasks – planning, construction, operation, and marketing – that are necessary for successful network expansion and operation of a hydrogen refuelling network. The stakeholders of H2 MOBILITY are Air Liquide, Daimler, Linde, OMV, Shell, and TOTAL. BMW, Honda, Hyundai, Toyota and Volkswagen as well as NOW GmbH National Organisation Hydrogen and Fuel Cell Technology advise H2 MOBILITY as associated partners.
Established in 1967, Hyundai Motor Company is present in over 200 countries with more than 120,000 employees dedicated to tackling real-world mobility challenges around the globe. Based on the brand vision ‘Progress for Humanity,' Hyundai Motor Company is accelerating its transformation into a Smart Mobility Solution Provider. The company invests in advanced technologies such as robotics and Urban Air Mobility (UAM) to bring about revolutionary mobility solutions, while pursuing open innovation to introduce future mobility services.
The global Corporate/M&A team of Baker McKenzie advises on more cross-border transactions than any other law firm. Most recently, Baker McKenzie advised Advent International on the sale of Allnex Group to PTT Global Chemical, Cognizant on the acquisition of the ESG Mobility division from Armira Private Equity, Deutsche Beteiligungs AG on the sale of its DNS:Net stake, TA Associates on the acquisition of a majority stake in IGEL, Embracer on the acquisition of Easybrain Limited, SK Telecom on a joint venture with Deutsche Telekom, Chr. Hansen Holding A/S on its acquisition of Jennewein Biotechnologie GmbH, SAP on the sale of its SAP Digital Interconnect communications unit to Sinch AB, Air Liquide on the sale of the Schülke Group to Swedish financial investor EQT, Bayer AG on the sale of its majority stake in the chemical park operator Currenta and Evonik on the sale of its methacrylate business to Advent International.
Legal advisor to Hyundai Motor Deutschland GmbH:
Corporate/M&A: Thomas Gilles (partner, Frankfurt), Won Lee (partner, Seoul), Albert Chung (Partner, Seoul)
Corporate/M&A: Jessica Köhler (associate, Frankfurt)
Antitrust: Nicolas Kredel (partner, Dusseldorf), Jonas Brueckner (counsel, Berlin)
Tax: Sonja Klein (senior counsel, Frankfurt)