Hyundai Motor to Build First Hydrogen Fuel Cell Systems Plant in South Korea by 2028
Key Ideas
- Hyundai Motor plans to establish its first hydrogen fuel cell systems plant in South Korea by 2028, enhancing the nation's position in renewable energy production.
- The new plant, to be constructed in Ulsan, will support the production of hydrogen fuel cell systems for various vehicles, including the Nexo EV and hydrogen trucks.
- South Korea is investing 129.3 billion won in projects focusing on technologies like hydrogen power to achieve carbon neutrality and ensure energy supply stability.
- The country aims to reduce greenhouse gas emissions by 40% by 2030 and achieve carbon neutrality by 2050, aligning with global sustainability goals.
Hyundai Motor is gearing up to establish its inaugural hydrogen fuel cell systems plant in South Korea, with operations set to commence in 2028. The company's labour union announced this development, highlighting a significant step towards bolstering the country's renewable energy infrastructure. This new facility, slated to be located in Ulsan, is poised to become Hyundai Motor's second hydrogen fuel cell systems plant globally. The plant will facilitate the production of these systems to power a range of vehicles, including the Nexo hydrogen fuel cell EV, hydrogen buses, and trucks. In parallel, the South Korean government is allocating 129.3 billion won to support technological ventures vital for achieving carbon neutrality and ensuring energy supply reliability. These initiatives encompass advancements in renewable energy technologies like hydrogen power and the optimized functioning of nuclear power plants, essential for South Korea's pursuit of net zero carbon emissions. By committing to slash greenhouse gas emissions by 40% by 2030 and attain carbon neutrality by 2050, South Korea aligns itself with broader sustainability objectives. Moreover, the allocated funds will be instrumental in fortifying the nation's energy grid to meet escalating electricity demands driven by AI and other advanced technologies, coupled with the impacts of climate change.