TerraLIX(former) Fuel Cell Labs (CEO Tae-young Kim) and Daechang Motors (CEO Chung-gi Oh), a company specializing in ultra-small electric vehicles, signed an MOU for hydrogen and fuel cell development.

In line with the government’s Green New Deal and hydrogen economy revitalization, the two companies plan to cooperate in developing hydrogen fuel cell systems for small mobility and vehicle application technologies.

Terraix Co., Ltd. develops a hydrogen fuel cell, which is equivalent to the engine of a hydrogen electric vehicle, and Daechang Motors Co., Ltd. is in charge of chassis and system integration while collaborating with companies related to fuel cell parts and vehicle manufacturing. They agreed to build a convergence ecosystem.

Meanwhile, Fuel Cell Labs Co., Ltd. (CEO: Tae-Young Kim) changed its name to TerraLIX Co., Ltd. and is starting to become a future mobility company based on fuel cell technology.