Hyundai Motor has unveiled its ambitious plans for expanding in the hydrogen energy business by announcing the construction of a new hydrogen fuel cell system factory in South Korea, set to commence operations in 2028. This move is part of the company's broader strategy to strengthen its presence in the hydrogen market. The new factory will cater to the production of hydrogen fuel cell systems for various vehicles, including the Nexo hydrogen fuel cell electric vehicle, Elec City bus, and hydrogen trucks. Hyundai Motor's efforts in the hydrogen energy sector date back to 2021 when it established its first overseas hydrogen fuel cell factory in Guangzhou, China. With the commissioning of the new factory, Hyundai aims to increase its global production capacity to 700,000 sets by 2030. The company currently leads the hydrogen fuel cell passenger vehicle market with its Nexo model, capturing 59% of global sales. Hyundai's future plans involve covering a wide range of application scenarios, from passenger vehicles to commercial vehicles, ships, and power generation equipment. Additionally, Hyundai intends to introduce a new generation of Integrated Modular Architecture (IMA) in 2025 to drive down the costs of hydrogen energy systems and improve compatibility.