Hyundai's HDX Steps Up in Green Mobility with 3.5T Hydrogen Forklift Order
Key Ideas
- Hyundai's HDX subsidiary receives an order for 22 hydrogen fuel cell forklifts with a 3.5T payload capacity from the Korea Construction Equipment Technology Institute.
- The forklifts will be used in a national project to verify the reliability and assess the economic and safety performance of hydrogen forklifts at Korea Zinc’s smelter in Onsan.
- Hydrogen forklifts are highlighted as eco-friendly mobility solutions that do not emit carbon dioxide, with potential savings of 1.8T of CO2 per day and 645T annually for the 22 units.
- The global hydrogen forklift market is projected to grow significantly, with a CAGR of 31.4% and expected to reach USD7.439 billion by 2032, according to Global Growth Research.
Hyundai's subsidiary HDX has secured an order for 22 hydrogen fuel cell forklifts, each with a 3.5T payload capacity, from the Korea Construction Equipment Technology Institute. These forklifts are intended for use in the national project aimed at verifying the reliability and evaluating the economic and safety performance of hydrogen forklifts at Korea Zinc’s smelter in Onsan until March 2026. The demonstration project's objective is to pave the way for the commercialization of hydrogen forklifts. Hydrogen forklifts are praised for their eco-friendly nature as they operate without emitting carbon dioxide, potentially leading to significant carbon savings. The global hydrogen forklift market is forecasted to witness substantial growth, with a projected increase from USD683.6 million in the previous year to USD7.439 billion by 2032. HDX aims to capitalize on this growth, secure additional sales post the demonstration project, and spearhead the transition to hydrogen mobility in industrial settings in Korea.