Hyundai’s Hydrogen Future Sees 2M FCEVs Annually By 2030

The Hyundai group has pledged itself to a hydrogen future promising to be making 500,000 vehicle-ready fuel-cells by 2030.

The group, which includes the Kia brand, has announced its long-term roadmap ‘FCEV Vision 2030’ plan, with a commitment to accelerate the development of a hydrogen society in both transport and energy storage solutions. It claims it will boost its annual fuel-cell systems production capacity to 700,000 units in the next 12 years and explore a business model supplying auto fuel-cell systems to other manufacturers of automobiles, drones, vessels, rolling stocks and forklifts to meet an expected annual demand of 2M vehicles. It also expects hydrogen power generation and storage systems opportunities to emerge in the very near future.

The ‘FCEV Vision 2030’ roadmap will see Hyundai and its suppliers invest about KRW 7.6Trn ($6.7Bn) in research and development and facility expansion, which is expected to create approximately 51,000 jobs by 2030. To meet expected demand, the group’s fuel-cell system manufacturing affiliate, Hyundai Mobis, will open its second fuel-cell system plant in Chungju, South Korea, to produce an annual fuel-cell system output of 40,000 units by 2022, up from the current 3,000 units.

Earlier this year launched Hyundai launched its Nexo fuel cell vehicle on its first dedicated FCEV platform, which provides many structural benefits including lighter weight, increased cabin space and improved fuel-cell system layout.

Euisun Chung, executive vice-chairman of Hyundai, (pictured) said: “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.”

— Paul Myles is a seasoned automotive journalist based in London. Follow him on Twitter @Paulmyles_

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