Doosan Fuel Cell's Strategic Push in South Korea's Hydrogen Bus Market
Key Ideas
  • HyAxiom Motors, a Doosan Fuel Cell subsidiary, plans to launch two hydrogen buses pending approval, aiming to become a key player in the domestic market.
  • South Korea's Ministry of Environment targets converting 21,000 buses to hydrogen by 2030 to align with energy and environmental policies.
  • Advantages of hydrogen buses include long driving ranges, quick refueling, and potential profitability for companies, as seen in Doosan Fuel Cell's case.
  • Doosan is strategically integrating its hydrogen business across various sectors to enhance competitiveness and tap into the 3,000 trillion won hydrogen mobility market by 2050.
HyAxiom Motors, a subsidiary of Doosan Fuel Cell, is set to introduce two types of hydrogen buses in South Korea pending approvals. This move positions Doosan as a key player in the domestic hydrogen bus market, following Hyundai Motor Group. The buses include an 11-meter-class large city bus and a high-floor intercity bus, aligning with the Ministry of Environment's goal of converting 21,000 buses to hydrogen by 2030. These buses offer advantages like long driving ranges and quick refueling, making them attractive for commercial use. Doosan's strategic push into the hydrogen bus market aims to enhance profitability, with the company eyeing growth opportunities in the expanding hydrogen mobility sector. By integrating its hydrogen business at the group level, Doosan seeks to strengthen competitiveness and capture a share of the lucrative hydrogen mobility market projected to grow significantly by 2050. While challenges like high costs and limited infrastructure persist, government support and investments are crucial for driving the adoption of hydrogen technologies.
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