Hyundai Motor Company has extended its strategic partnership with Shell Lubricants through 2031 as both companies seek to strengthen collaboration in future mobility technologies and automotive services. The companies have renewed their five-year Global Business Cooperation Agreement, building on more than two decades of cooperation that began in 2005.
The renewed agreement will expand joint activities across research and development, service marketing, motorsports and high-performance mobility. The partnership aims to support Hyundai’s response to changes in the automotive market while improving vehicle performance, efficiency, customer satisfaction and sustainability.
Hyundai and Shell will continue joint service marketing programs that provide customers with access to Shell’s premium engine oils through Hyundai’s global aftersales network. The companies also plan to broaden research programs that focus on next-generation automotive fluids. These efforts will include improvements in engine oil performance as well as the development of specialized fluids and coolants for electric vehicles.
Beom Seok Kang, Senior Vice President and Head of the Global Service Sub-Division at Hyundai Motor Company, said the long-term relationship has helped improve Hyundai’s global aftersales competitiveness and customer satisfaction. He added that the extended partnership will help both companies respond more effectively to changes across the future mobility sector.
Shell will also contribute expertise in next-generation e-fluids, thermal management, digital technologies and high-performance mobility. According to Lee Ming Seow, Vice President of Global Key Accounts and New Business Development at Shell Lubricants, the partnership has supported lubricant technology development and helped transfer lessons from motorsports into commercial automotive applications.
Motorsports will remain an important part of the expanded cooperation. Shell has broadened its relationship with Genesis, Hyundai Motor Group’s luxury brand, and serves as a performance and innovation partner for Genesis Magma Racing during its debut season in the 2026 FIA World Endurance Championship.
Shell supplies specialized lubricants and coolants for the GMR-001 Hypercar, giving the company an advanced platform to test lubricant technologies under demanding racing conditions.
The collaboration also extends to Hyundai’s N Division, where the companies will co-engineer lubricants for high-performance internal combustion engines and electric vehicles. These programs can help Shell refine advanced lubricant products while giving Hyundai access to specialized fluid technologies.
Overall, the extended partnership strengthens cooperation across conventional engines, EV systems, thermal management and motorsports. The agreement also highlights the growing importance of advanced fluids as automakers shift toward electrification and more demanding performance requirements.
Product and Chemical Commodity Price Impact
The partnership is likely to support demand for higher-performance automotive lubricants, specialty fluids, EV coolants and thermal-management chemicals. In the near term, the direct impact on commodity prices should remain limited because the agreement focuses primarily on technology development and long-term collaboration rather than major immediate volume expansion. However, greater adoption of EV-specific fluids and advanced lubricants could gradually increase demand for specialty base oils, additives, synthetic lubricants, glycols and performance chemicals. This could provide modest upward price support for selected lubricant-related commodities. Meanwhile, broader EV adoption may reduce long-term demand growth for conventional engine oils, creating divergent price trends across automotive fluid categories.
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