Hyundai Motor Co. is set to build a new fuel cell plant in Ulsan, South Korea, part of its strategic vision to create the complete hydrogen fuel cell value chain. The agreement between Hyundai Motor and its labor union will see the construction of a next-generation hydrogen fuel cell plant within the automaker's existing car manufacturing complex in Ulsan. This facility, scheduled to commence mass production in 2028, aims to become the world's second-largest fuel cell manufacturing site, following the HTWO Guangzhou plant in China. The move comes after Hyundai Motor Group's decision to centralize its hydrogen business by taking over the fuel cell division from Hyundai Mobis Co. The new plant will enable Hyundai Motor to produce fuel cell stacks and assemble hydrogen-powered vehicles in one location, streamlining the production process. Hyundai Motor's long-term plan includes developing a range of hydrogen energy technologies under the fuel cell brand HTWO. The company's commitment to hydrogen energy expands beyond vehicles, with efforts to control the entire hydrogen value chain by increasing annual hydrogen consumption. Hyundai Motor is also looking to establish a hydrogen network in Japan, showcasing its dedication to expanding its hydrogen-related businesses. Despite the current slow demand for hydrogen energy, Hyundai Motor remains focused on its investments in the fuel cell business, with plans to introduce a new hydrogen fuel cell car model called INITIUM to the market in the near future.