Hyundai Motor Group, which includes automotive brands Hyundai Motor Company and Kia Motors Corporation, today announced its long-term roadmap ‘, as the group reaffirms its commitment to accelerate the development of a hydrogen society by leveraging the group’s global leadership in fuel-cell technologies.
- FCEV Vision 2030’ highlights Hyundai Motor Group (HMG)’s commitment to accelerate the development of a hydrogen society
- HMG to expand its leadership in hydrogen technology beyond transportation sector
- HMG to explore new businesses to supply fuel-cell systems to manufacturers of automobiles, drones, vessels, rolling stocks, forklifts and power generators
- HMG aims to produce 700,000 fuel-cell systems annually by 2030 including 500,000 units for FCEVs·
- Under ‘FCEV Vision 2030’, HMG along with suppliers will invest KRW 7.6 trillion won by 2030, creating 51,000 jobs in the process
Aligned with the roadmap, Hyundai Motor Group (The Group) will drastically boost 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 automobiles, drones, vessels, rolling stocks and forklifts.
The demand for fuel-cell systems from sectors beyond transportation such as power generation and storage systems is also expected to emerge quickly.
“Hyundai Motor Group, the global pioneer of the commercial production of FCEV, is taking a bold step forward to expedite the realisation of a hydrogen society,’’ said Euisun Chung, Executive Vice Chairman of Hyundai Motor Group.
“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.
“We are confident that hydrogen power will transcend the transportation sector and become a leading global economic success.”
The ‘FCEV Vision 2030’ roadmap will help Hyundai Motor Group and its suppliers invest approximately KRW 7.6 trillion in R&D and facility expansion, which is expected to create approximately 51,000 jobs by 2030.
The Group plans to secure a 500,000-units-a–year FCEV production capacity by 2030, including passenger vehicles and commercial vehicles, in anticipation of high demand for global FCEVs expanding to around 2million units a year within that timeframe.
As the first step to fulfil the ‘FCEV Vision 2030’, HMG’s fuel-cell system manufacturing affiliate Hyundai Mobis Co. today held a ground breaking ceremony for its second fuel-cell system plant in Chungju, South Korea.
The second factory will help Mobis increase annual fuel-cell system output to 40,000 units by 2022, up from the current 3,000 units.
The Group’s flagship auto-making affiliate Hyundai Motor earlier this year launched NEXO, its second-generation commercialized FCEV, improving upon the acclaimed …
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