Hyundai and Kia will aim to dramatically boost their annual fuel-cell systems production capacity by 700,000 units by 2030 — a plan that falls in-line with their “FCEV Vision 2030”.
Part of a long-term roadmap, Hyundai Motor Group seeks to explore new business opportunities that will allow the company to supply its fuel-cell systems to other automotive manufacturers — and producers of drones, vessels, rolling stocks and forklifts.
“We will expand our role beyond the automotive transportation sector and play a pivotal role in global society’s transition to clean energy by helping make hydrogen an economically viable energy source,” said Euisun Chung, Executive Vice Chairman of Hyundai Motor Group. “We are confident that hydrogen power will transcend the transportation sector and become a leading global economic success.”
The plan is also meant to help the company and its suppliers invest around “KRW 7.6 trillion” in research and development and facility expansion. The investment is expected to result in the creation of approximately 51,000 jobs by 2030.
Its affiliate Hyundai Mobis Co. recently held a groundbreaking ceremony for the carmaker’s fuel-cell system plant in Chungju, South Korea. It is anticipated that the plant will help increase their annual fuel-cell system output to 40,000 units by 2022 — up from today’s 3,000 units.
The carmaker also created a division in December that is dedicated to the develop and support of fuel-cell system businesses.
