(Incheon, South Korea) – South Korean automotive supplier Hyundai Mobis Co., Ltd., part of Hyundai Motor Group, has broken ground on two new hydrogen fuel cell systems plants in Korea. The project is considered so significant that the ceremony was also attended by President Moon Jae-in and Deputy Prime Minister Hong Nam-ki.
The plants in the industrial complex in Cheongna International City, Incheon, west of Seoul, and in Ulsan are scheduled to start production in the second half of 2023 with an annual capacity of 100.000 hydrogen fuel cell systems. Hyundai Mobis wants to invest 1,3 trillion won (0,94 billion euros) for this.
Once completed, the group will operate a total of three fuel cell factories. A first production system for stacks was set up in Chungju in 2018. The factory can produce around 23.000 units per year.
According to the company, most of the fuel cells manufactured by Hyundai Mobis are currently used in electric vehicles. The group wants to diversify its existing business and also develop the market for construction machinery and logistics.
Hyundai had already developed units for hydrogen-powered forklifts last year. They are now working on hydrogen drives for excavators and are planning to expand the fuel cell systems for air mobility.
Hyundai Mobis is the seventh largest automotive supplier in the world with annual sales of almost $30 billion. The company was founded in 1977 and is headquartered in Seoul. Products include electrification components, brakes, chassis and suspension, steering, airbags, lighting and automotive electronics. Hyundai Mobis currently employs more than 30.000 people worldwide and has four technology centers in Germany, China, India and the United States.
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Rendering of the new fuel cell factory. © Hyundai Mobis
