yundai Motor recently broke ground on $654 million hydrogen fuel cell production facility, designed to accelerate its hydrogen-powered mobility efforts for its construction equipment, commercial trucks and buses, passenger vehicles and marine vessels.
Scheduled for completion in 2027, the 462,800-square-foot facility in Ulsan, South Korea, will have an annual production capacity of 30,000 fuel cell units. It will operate under Hyundai Motor Group’s hydrogen brand and business platform, HTWO, which symbolizes ‘Hydrogen for Humanity.’
Hyundai Construction Equipment has been developing hydrogen fuel cells to power forklifts and medium- and large-sized excavators since 2020, when it signed a Memorandum of Understanding with Hyundai Motors and Hyundai Mobis.
South Korea is making significant strides in hydrogen fuel cell technology with several major investments and projects. Key points of investment in hydrogen fuel cells include:
*Gyeongju Hydrogen Fuel Cell Power Station: A 108MW facility in Gyeongju, North Gyeongsang province, set to become the world's largest single hydrogen fuel-cell installation when operational in 2028.
*Ulsan Hydrogen Fuel Cell Production Facility: A new facility in Ulsan, South Korea, aimed at producing next-generation hydrogen fuel cells and electrolyzers for various mobility applications.
*Ulsan Hydrogen Power No. 2: The largest facility in the country running entirely on hydrogen, powered by byproduct hydrogen from nearby petrochemical facilities.
*Dangjin Green Energy Hub: A $1.7 billion initiative that includes a 900MW hydrogen power plant, a 300MW battery energy storage system, and an $860 million data centre.
These investments reflect South Korea's commitment to advancing hydrogen technology and positioning itself as a leader in the global hydrogen industry.
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