- Signed a transfer agreement with Hyundai Mobis to acquire the hydrogen fuel cell business
Seoul–Hyundai Motor Company will acquire Hyundai Mobis’ hydrogen fuel cell business to strengthen its hydrogen leadership and optimize the hydrogen value chain. Hyundai Motor Company announced on the 16th that it signed a business transfer agreement with Hyundai Mobis and will take over all of Hyundai Mobis’ domestic hydrogen fuel cell business.
Through this contract, Hyundai Motor Company plans to continue the business by acquiring facilities and assets related to Hyundai Mobis’ hydrogen fuel cell business, as well as R&D, production and quality personnel.
◇ Creating synergy through organic connection between R&D and production… As part of building a ‘hydrogen value chain’,
the decision to acquire the hydrogen fuel cell business is to integrate the existing dual structure of R&D (Hyundai Motors) and production (Hyundai Mobis) so that research and development and production are organically connected to create synergy. am.
Through this, the plan is to secure the technological competitiveness of hydrogen fuel cells, improve production quality, and expand sales of hydrogen fuel cells that can be applied to various applications other than hydrogen electric vehicles and vehicles, ultimately accelerating the realization of a hydrogen ecosystem.
At ‘CES 2024’ held in January, Hyundai Motor Company declared that it would expand its existing fuel cell brand ‘HTWO’ into Hyundai Motor Group’s hydrogen value chain business brand.
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In addition, we announced the ‘HTWO Grid’ solution to provide an optimized customized package by combining unit solutions (Grid) to suit the various environmental characteristics and needs of customers at all stages from hydrogen production to storage, transportation, and utilization. A blueprint has been presented to drive the growth of the hydrogen business and accelerate the transition to a hydrogen society through the establishment of a ‘hydrogen value chain’.
This business acquisition is also part of building a hydrogen value chain, and Hyundai Motor Company plans to increase the production efficiency of hydrogen fuel cell systems through the integration of original and production technologies to connect the value chain from R&D, production, and vehicles.
The hydrogen fuel cell system is a key component that has a significant impact on the marketability of hydrogen electric vehicles, such as vehicle price and fuel efficiency. Hyundai Motor Company is improving the performance, durability, and production quality of hydrogen fuel cells by connecting the value chain between the R&D area and the production area. The goal is to contribute directly or indirectly to the expansion of electric vehicle distribution.
In order to solidify its leadership position in the hydrogen electric vehicle market, Hyundai Motor Company plans to launch a successor model to the NEXO by 2025, while continuing efforts to diversify its business in non-vehicle fields such as power generation, trams, ports, ships, and AAM.
In particular, Hyundai Motor Company expects that with this acquisition, it will be able to lead the future hydrogen industry based on preemptive technological capabilities through internalization of hydrogen fuel cell production. In addition, it will develop hydrogen utilization applications in hydrogen fuel cell-related fields and externalize them. It is expected that collaboration will further accelerate.
◇ Strengthening leadership in the hydrogen field through continuous investment across all stages of the hydrogen value chain
Hyundai Motor Company is continuing to develop various technologies and continuously invest not only in the hydrogen fuel cell business but also across all stages of the hydrogen value chain.
In order to produce ‘green hydrogen’, the ultimate eco-friendly hydrogen, Hyundai Motor Company will mass produce megawatt (MW) PEM (Polymer Electrolyte Membrane) water electrolyzers within a few years and prepare for the current situation by commonizing hydrogen fuel cell parts and production infrastructure. We plan to produce hydrogen at a competitive price.
In addition, △ a method of converting organic waste into hydrogen (W2H), △ a method of converting waste plastic into hydrogen, so that hydrogen can be produced through household waste even in areas where water resources are limited or renewable energy supply is not easy. We are developing two types of resource-cycling hydrogen production technologies using the Plastic-to-Hydrogen (P2H) method.
Hyundai Motor Company is also developing technologies for storing, transporting and utilizing hydrogen through cooperation with other affiliates within the group. Hydrogen can be stored in liquid, gas, and solid forms, and like natural gas, it can be transported in various ways, including on land and sea.
Hyundai Motor Company President Jang Jae-hoon said, “We will innovate hydrogen mobility by unifying the value chain from R&D to manufacturing of the fuel cell system, which is the core of the hydrogen ecosystem, and through this, accelerate the hydrogen society.”
Meanwhile, Hyundai Motor Company has been intensively developing hydrogen-related technology since the beginning of fuel cell research in 1998, and has been investing in the hydrogen field for over 25 years through mass production of the world’s first Tucson ix35 hydrogen electric vehicle in 2013 and Nexo, a hydrogen electric vehicle model in 2018. We have continued to strengthen our leadership in the hydrogen field.
Furthermore, Hyundai Motor Group plans to increase annual hydrogen consumption to approximately 3 million tons by 2035 in order to horizontally connect the hydrogen business capabilities of each group company and contribute to creating large-scale hydrogen demand at the group level to accelerate the realization of a hydrogen society.
Website: http://www.hyundai.com
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