Hyundai to set up first overseas fuel cell system plant in China

17 Janvier, 2021, 12:55 | Auteur: Auguste Feret
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Construction of the factory is expected to make use of subsidies from the Guangdong Province government.

Construction of the Guangzhou city facility with annual capacity of 6,500 fuel cell systems is to begin in March, with completion aimed for the second half of 2022, the automaker group said.

The group, which includes Hyundai Motor Co., Kia Motors Corp. and other affiliates, said it plans to supply up to 700,000 fuel-cell systems a year globally from 2030.

The fuel cell systems that will be produced in the plant are to be the same ones that are used for Hyundai Motor's Nexo fuel cell electric sport utility vehicles, the company added.

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South Korea is keen to develop fuel cell systems, with the government pledging hefty investment. Global companies from Japan, Germany, the United Kingdom and other countries have also been working with the Chinese partners to develop technology related to fuel cell vehicles and to advance the local hydrogen industry.

Moreover, the Group will work with Chinese companies to participate in the Guangdong government's hydrogen-related pilot project and initiatives, which will help Hyundai secure a competitive advantage in China's hydrogen industry.

"Hyundai wants to compete in China's hydrogen vehicle market, where it is still a leading player, while it is struggling to compete there with local rivals for battery-powered EVs", said Lee Hang-koo, executive adviser at Korea Automotive Technology Institute. Meanwhile, China's ambition to foster a hydrogen economy aims to have one million FCEVs on its roads by 2035 centering on commercial vehicles.

Hyundai also recently launched HTWO, its new brand for hydrogen fuel cell systems. However, it announced a plan in December to invest more than Won60tn ($54.5bn) over five years to shift from traditional auto manufacturing into sectors including EVs, hydrogen fuel cells and driverless vehicles.

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