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Hyundai Mobis Will Invest $1 Billion in Two Hydrogen Fuel Cell Plants in South Korea

By August 20, 2021 2   min read  (241 words)

August 20, 2021 |

Fuel Cells Works, Hyundai Mobis Will Invest $1 Billion in Two Hydrogen Fuel Cell Plants in South Korea
  • Fuel cell stacks and final fuel cell systems will be produced in the factories in Incheon and Ulsan.

Today (20th August 2008), Hyundai Mobis Co. (a subsidiary of the Hyundai Motor Group) announced it would invest 1.321 trillion won (1.12 billion USD) in two hydrogen fuel-cell plants by 2025.

Two fuel cell plants have been approved for investment by Hyundai Mobis’ board of directors. The first is to build hydrogen fuel-cell stacks in Incheon, and the second is to manufacture hydrogen fuel-cell systems in Ulsan.

Plant construction will begin at the end of this year and is expected to be completed at the end of 2023. Fuel cell stacks manufactured in Inchon will be used in the fuel cell system at Ulsan.

The reason Hyundai Mobis is building a hydrogen fuel cell production plant in Korea rather than overseas is because the hydrogen fuel cell system is managed as a national core technology. This is because there is a possibility of technology leakage. This is the same reason why the hydrogen fuel cell production corporation established by Hyundai Motor Group in Guangzhou, China, only carries out the second half of the process.

In the future, Hyundai Motor will use the system to power fuel cell vehicles. In addition to improving competitiveness, the new investment will help scale up production.

“Through this new base investment, we will establish an efficient supply chain for next-generation fuel cell systems and provide a new opportunity to expand the hydrogen-related ecosystem.”

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