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Hyundai Motor Company and Shell Lubricants have signed a five-year extension to their Global Business Cooperation Agreement, pushing their partnership through 2031. The renewed deal, announced in April 2025, builds on a relationship that started in 2005 and now targets electric vehicle technology, high-performance racing, and advanced thermal management.
Under the expanded agreement, the two companies will shift significant R&D resources toward next-generation e-fluids, coolants, and thermal management systems specifically designed for electric vehicles. This marks a clear pivot from the earlier focus on conventional engine oils, though traditional lubricant development will continue. Shell will also work with Hyundai on digital technology integration and high-performance mobility solutions, aiming to improve efficiency and range for EVs.
The motorsports front gets a major boost: Shell is now the performance and innovation partner for Genesis Magma Racing, Hyundai’s new factory team entering the FIA World Endurance Championship in 2026. Shell will supply specialized lubricants and coolants for the GMR-001 Hypercar, with real-world racing data feeding back into road-going vehicle products. This closed-loop development approach mirrors what Formula 1 teams have used for decades, but now brings a luxury brand into the mix.
Hyundai’s N performance division will also serve as a testbed for co-engineering lubricants for high-performance combustion engines and EVs. The extreme conditions of track driving allow Shell to validate new formulations before they reach consumer vehicles, a strategy that accelerates innovation.
“We are pleased to extend Hyundai Motor’s long-standing partnership with Shell,” said Beom Seok Kang, senior vice president and head of Global Service Sub-Division at Hyundai Motor. “Through our collaborative aftersales service marketing initiatives, we have enhanced our global aftersales service competitiveness and improved customer satisfaction by delivering Shell’s premium quality engine oils to Hyundai customers worldwide.”
Shell’s Lee Ming Seow, vice president for Global Key Accounts and New Business Development, added: “For more than two decades, Shell and Hyundai Motor have partnered to deliver innovation, performance, and customer value globally. By combining our expertise we will continue to develop solutions that enhance performance, efficiency, and sustainability.”
The partnership extension comes at a time when the global EV lubricant market is projected to grow at a CAGR of over 15% through 2030, according to a 2024 report by IHS Markit. Both companies are positioning themselves to capture that demand by co-developing fluids that can handle the higher thermal loads and electrical conductivity requirements of modern EV powertrains.
Hyundai and Shell’s combined aftersales service marketing will continue to run in key markets including North America, Europe, and Asia. The companies have not disclosed the financial terms of the renewed agreement, but analysts note that long-term OEM-supplier deals in the lubricant space typically run into the hundreds of millions of dollars.
The partnership’s emphasis on motorsports and racing-derived technology also aligns with Hyundai’s broader luxury push under the Genesis brand. Genesis Magma Racing’s debut in the WEC is expected to elevate the brand’s global profile, and Shell’s involvement ensures that fluid technology will be a differentiator from the start.
