Hyundai aims to produce 700,000 fuel cell systems per year by 2030
Hyundai Motor Group has announced its long-term roadmap ‘FCEV Vision 2030’ plan, 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.
Aligned with the roadmap, Hyundai 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.
“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,” said executive vice chairman of Hyundai Motor Group Euisun Chung.
The ‘FCEV Vision 2030’ roadmap will help Hyundai Motor Group and its suppliers invest approximately 7.6 trillion won (US$6.7 billion) 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-unit-per-year FCEV production capacity by 2030, including passenger vehicles and commercial vehicles, in anticipation of high demand for global FCEVs expanding to around 2 million units per year within that timeframe.
As the first step to fulfil 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. 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 commercialised FCEV, improving upon the acclaimed Tucson FCEV introduced in 2013. NEXO was built on Hyundai’s first dedicated fuel-cell vehicle architecture, which provides many structural benefits including lighter weight, increased cabin space and improved fuel-cell system layout.
The group plans to further advance the fuel-cell system used in NEXO models to upgrade and diversify its fuel-cell system lineup, so it can respond to demands from various industry sectors.