Plug Power signs agreement for mass-production of hydrogen-powered city buses

Edison Motors, a Korean electric car manufacturer, signed an agreement with NY-based Plug Power (NASDAQ: PLUG), a provider of turnkey hydrogen solutions for the global green hydrogen economy, to develop and bring to market a hydrogen fuel cell-powered electric city bus. Plug Power’s 125kW ProGen fuel cell engine will provide power to Edison Motors’ electric bus platform. The companies expect to complete a fuel cell electric bus prototype by the second half of 2022 and be prepared to launch a mass-market platform by the first half of 2023.

“The fuel cell electric city bus project is just the beginning of strategic cooperation between Edison Motors and Plug Power,” said Chairman Young-Kwon Kang of Edison Motors. “In the future, we hope to partner on other mobility applications, including trucks, vessels, drones, and PAVs. We believe that our combined technology and know-how in electric buses will position us to sell fuel cell-powered electric buses not only in Korea but also in other overseas markets.”

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Andy Marsh, CEO of Plug Power Inc., said, “Plug Power has a goal to expand our global footprint to stimulate the Asian hydrogen and fuel cell market. We acknowledge this is one of the fast-growing markets in the world and believe that this partnership with Edison Motors will pave the way to achieving global net zero.”

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Edison Motors sold the largest number of electric buses in Seoul this year for the second consecutive year. The Company is actively expanding its electric bus platform with the launch of a new inter-city long-range electric bus platform.

Plug Power is building the hydrogen economy as the comprehensive hydrogen fuel cell turnkey solutions provider. The Company has deployed over 50,000 fuel cell systems for e-mobility.

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