Hyundai accelerates on hydrogen: $ 1.1 billion for two new Fuel Cell plants

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Hyundai strongly believes in hydrogen technology and recently shared many of the details of his plan to support the acceleration of the hydrogen economy and to lead the way in this field. A new step forward for this ambitious project is; was completed a few days ago, on October 7, with the inauguration of a new plant that will produce; fuel cell stacks at the Cheongna International City Industrial Complex in Incheon.

But to better support its growth strategy for the future, the Korean company, through its subsidiary Hyundai Mobis, invest & agrave; 1.1 billion dollars for two new plants of fuel cells in Korea. The start of mass production is expected for the second half & agrave; of 2023. At that point, Hyundai Mobis will be able to & agrave; count on a production of 100,000 hydrogen fuel cells every year. This means that the company will have the most large capacity of Fuel Cell systems production worldwide.

Auto 06 Oct

Once construction is complete, Hyundai Mobis will manage a total of three fuel cell factories. Once all new plants are up and running, the Korean company plans to expand its production lines involving fuel cell systems to diversify its operations. Currently, Fuel Cell systems are only used on vehicles. The goal, however, is to supply fuel cells also for sectors such as construction machinery and logistics equipment.

In this regard, it is recalled that last year Hyundai Mobis had developed fuel cell power units for hydrogen forklifts. Currently, the Korean company is developing power packs for hydrogen-powered excavators and plans to extend fuel cell systems to mobility. urban aerial. Sung Hwan Cho , President and CEO of Hyundai Mobis, commented:

Despite the uncertainties, including COVID-19, we have decided to make this investment broadly scale to secure a market leading role in the global fuel cell industry. We will continue to invest even more in the plants and to strengthen our capacity; of Research and Development to grow the hydrogen industry and expand its ecosystem.

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