Hyundai Mobis Co. announced it would invest 1.321 trillion won (approx 1.12 billion USD) in two hydrogen fuel-cell plants by 2025.
Two fuel cell plants have been approved for investment by Hyundai Mobis' board of directors. The first to build hydrogen fuel-cell stacks in Incheon, and the second is to manufacture hydrogen fuel-cell systems in Ulsan.
The main reason behind building a hydrogen fuel cell production plant in Korea rather than overseas is because the hydrogen fuel cell system is managed as a national core technology. This is the same model as established by the Hyundai Motor Group in Guangzhou, China.
In the future, Hyundai Motor will use the system to power fuel cell vehicles. In addition to edge above their competitors, the new investment will help scale up production.
Through this new base investment, Hyundai group will establish an efficient supply chain for the next-generation fuel cell systems and provide a new opportunity to expand the hydrogen-related ecosystem
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