To Complete a Hydrogen Value Chain
Hyundai Motor Group is moving to establish a new hydrogen fuel cell plant for Hyundai Mobis. The group is reviewing the candidate sites for the plant.
Hyundai Motor Group announced a revised business strategy for 2025 in December 2020. The hydrogen solution business based on hydrogen fuel cells was added to the previously announced smart mobility device and smart mobility service businesses. It also plans to invest about 7 trillion won in the hydrogen business by 2030 and create 50,000 jobs.
Hyundai Mobis is operating a parts factory for electric vehicles and hydrogen cars in Chungju and recently built parts factories for electric vehicles in Ulsan and Pyeongtaek. It produces batteries at Chungju Factory 1 and 40,000 units of hydrogen fuel cell stacks at Chungju Factory 2.
Hyundai Motor Group plans to complete a hydrogen value chain. It is planning to set up its first hydrogen fuel cell system production base in Guangzhou, China, to annually produce 6,500 hydrogen fuel cells for the hydrogen electric vehicle Nexo.
Other affiliates are also stepping up efforts to build the hydrogen value chain. Hyundai Steel will produce high-purity hydrogen directly at its Dangjin Hydrogen Plant, while Hyundai Glovis plans to transport it using special vehicles to Hynet Hydrogen Charging Stations in the Seoul metropolitan area.