Hyundai Motor Group (HMG) is dramatically increasing its interest in hydrogen fuel cell technology by investing almost $6.7bn (KRW 7.6 trillion won) into developing hydrogen-powered systems for cars, drones and ships.
The South Korean carmaker will increase its annual fuel-cell systems production capacity to 700,000 units by 2030 and explore new business opportunities to supply its world-class fuel-cell systems to other transportation manufacturers of cars, drones, vessels, rolling stocks and forklifts.
The ‘FCEV Vision 2030’ roadmap will help HMG and its suppliers to invest approximately KRW 7.6 trillion in R&D and facility expansion, with the creation of roughly 51,000 jobs.
As a first step towards the ‘FCEV Vision 2030’, HMG’s fuel-cell system manufacturing affiliate Hyundai Mobis Co. held a ground-breaking ceremony for its second fuel-cell system plant in Chungju, South Korea. It will help Mobis increase annual fuel-cell system output to 40,000 units by 2022, up for the current 3,000 units.
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