Hyundai and Audi have come together to fast track the development of fuel cell technologies. Under the latest agreement, both carmaker plan to cross-licence patents and grant access to non-competitive components to reduce the cost of fuel cell electric vehicles (FCEVs), which are seen as a more promising alternative to battery operated electric vehicles. However, the agreement is yet to get an approval from the regulatory authorities. Both carmaker’s have also confirmed that they are also exploring more far-reaching collaborations for the development of the fuel cell technology in the future.