Hyundai Motor to build hydrogen fuel cell plant in China, first overseas

According to foreign media reports, on January 5, sources revealed that Hyundai Motor will build its first overseas hydrogen fuel cell factory in China, aiming to enter the Chinese hydrogen energy market.

Hyundai's first fuel cell electric vehicle, NEXO (Photo credit: Hyundai)

Sources said that Hyundai will build a hydrogen fuel cell factory in Guangzhou, China in 2021, and has recently obtained government approval for this investment plan.

The person said: "Hyundai Motor is in talks with a Chinese company to set up a joint venture for factory construction. Hyundai is expected to announce the factory construction news as early as this month." As of press time, Hyundai has not confirmed this investment plan.

South Korean government officials said that hydrogen technology is regarded as one of South Korea's core technologies, and the Ministry of Trade, Industry and Energy of South Korea reviewed the impact of exporting hydrogen fuel cell systems and approved the investment plan because the ministry believes that building a hydrogen fuel cell system factory will pave the way for South Korean auto parts suppliers to increase exports to China.

Recently, Hyundai launched a dedicated brand for fuel cell systems called HTWO, which symbolizes the hydrogen molecule H2, and plans to sell 700,000 hydrogen fuel cell packs worldwide by 2030.