Hyundai Motor Co. is set to establish a new fuel cell plant in Ulsan, South Korea, marking a significant step in its endeavor to build a hydrogen fuel cell value chain. The company, together with its labor union, has agreed to construct a next-generation hydrogen fuel cell plant within its existing car manufacturing complex in Ulsan. This plant is scheduled to commence mass production of fuel cell systems in 2028, positioning it as the second-largest facility globally after HTWO Guangzhou in China. Hyundai Motor's decision to create this new plant follows its acquisition of the hydrogen fuel cell business from Hyundai Mobis Co., consolidating all hydrogen-related activities under one roof. The company's strategic move aims to streamline the production process by manufacturing fuel cell stacks and assembling hydrogen-powered vehicles in a single location. With a focus on expanding the hydrogen energy sector, Hyundai Motor unveiled its vision to cover the entire hydrogen value chain under its brand HTWO, with plans to increase annual hydrogen consumption to 3 million tons by 2035. Despite current challenges such as sluggish demand for hydrogen energy, Hyundai Motor continues to invest in hydrogen fuel cell technology. In collaboration with Japanese companies, the company is establishing a hydrogen network and seeking shareholder approval for further diversification of its business portfolio. As a key player in the hydrogen fuel cell electric vehicle market, Hyundai Motor, alongside Toyota Motor Corp., is driving innovation with the upcoming launch of the INITIUM hydrogen fuel cell car model in the near future.