Hyundai Motor Company Expanding Hydrogen Fuel Cell Production in Ulsan, South Korea
Key Ideas
- Hyundai Motor Company is setting up a new hydrogen fuel cell production facility at its Ulsan plant, aiming to boost growth in the hydrogen-powered electric vehicle market.
- The facility will be the company's second production base, with plans for mass production by 2028 to power vehicles like the Nexo SUV, Ele City buses, and trucks.
- The move aligns with Hyundai's goal to integrate hydrogen systems into its vehicle lineups by 2028 and reduce the cost of hydrogen-powered cars to be on par with EVs by 2030.
- Hyundai's emphasis on a people-centered work environment and safety standards in the new facility reflects its commitment to sustainable and innovative practices.
Hyundai Motor Company is gearing up to establish its second hydrogen fuel cell production facility at its Ulsan plant in South Korea. This expansion aims to bolster the company's presence in the hydrogen-powered electric vehicle market. The new facility, located adjacent to the auto transmission manufacturing site, is expected to commence construction this year with mass production slated for 2028. While specific production capacity details for Ulsan remain undisclosed, the Guangzhou site currently manufactures hydrogen fuel cell systems for 6,500 vehicles annually. The fuel cells produced in Ulsan will be utilized in Hyundai Motor's Nexo SUV, Ele City buses, and trucks.
The decision to enhance its domestic hydrogen business came after Hyundai Motor's bargaining agreement with the labor union last year. By incorporating hydrogen systems into its vehicle lineup by 2028 and aiming to reduce the price of hydrogen-powered cars to match EVs by 2030, the company is strategically positioning itself for the future automotive landscape. Additionally, the upcoming shareholders' meeting will see Hyundai Motor formally include "hydrogen and other related businesses" in its corporate objectives.
The establishment of the hydrogen fuel cell facility underscores Hyundai's commitment to sustainable practices and innovation. The company's focus on prioritizing a people-centered work environment and ensuring the highest safety standards indicates a holistic approach to business growth. With plans to launch the Initium hydrogen SUV this year, offering an impressive range of 650 kilometers on a single charge, Hyundai Motor is driving towards a more sustainable and technology-driven future.
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Public Transit
Sustainability
Automotive Industry
Electric Vehicles
Manufacturing
Business Expansion
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