Hyundai Motor Group's Bold Move: Creating a Hydrogen Ecosystem Control Tower
Key Ideas
- Hyundai Motor Group establishes Energy Hydrogen Business Division to drive the hydrogen industry ecosystem and support global carbon neutrality goals.
- The new division, led by VP Ken Ramirez, focuses on hydrogen production, storage, transportation, and utilization, separate from vehicle production.
- Hyundai aims to expand collaborations with global companies like Toyota and GM, positioning itself in the growing $2.8 trillion hydrogen market by 2032.
- The company plans to launch the 'Inisium,' successor to Nexo, this year and continue investing in hydrogen vehicle production and sales.
Hyundai Motor Group has announced the establishment of a dedicated Energy Hydrogen Business Division to spearhead the advancement of the hydrogen industry ecosystem. This strategic move, separate from vehicle production, aims to streamline hydrogen energy operations across Hyundai subsidiaries. Led by VP Ken Ramirez, the division will oversee activities related to hydrogen production, storage, transportation, and utilization, emphasizing the development of the HTWO hydrogen fuel cell system brand. Hyundai's goal is to contribute to global carbon neutrality efforts by accelerating the transition to a hydrogen society. With the global hydrogen market projected to reach $2.8 trillion by 2032, Hyundai plans to leverage partnerships with global giants like Toyota and GM to build a comprehensive hydrogen business value chain. The company's upcoming launch of the 'Inisium' model and continued investments in hydrogen vehicle production demonstrate its commitment to leading the clean energy transition.
Topics
Fuel Cells
Clean Energy
Investment
Automotive Industry
Business Strategy
Carbon Neutrality
Economic Growth
Global Partnerships
Industry Ecosystem
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