The Korean Ministry of Trade, Industry and Energy announced today that it has approved Hyundai Motor’s export of hydrogen fuel cell technologies.
Hydrogen fuel cell systems home grown technology, the heart of hydrogen cars, are now approved for export to the United States and Europe.
As a result of this approval, Hyundai will be able to export hydrogen fuel cell systems to the United States and Europe.
The annual growth rate of the hydrogen vehicle market in 2020-2028 is expected to reach 57.1% in North America and 84.2% in Europe .
The hydrogen fuel cell system is a device that produces electricity using hydrogen, and is a core part of the engine of an internal combustion engine . This hydrogen fuel cell system design and manufacturing technology has been evaluated as having very high economic value as well as technical value as only a few companies such as Hyundai Motors in Korea and Toyota in Japan presently have it .