Hyundai Motor Group, which includes automotive brands Hyundai Motor Company and Kia Motors Corporation, has announced its long-term roadmap ‘FCEV Vision 2030’ plan, as the group reaffirms its commitment to accelerate the development of a hydrogen society by leveraging the group’s global leadership in fuel-cell technologies.
Aligned with the roadmap, Hyundai will drastically boost its annual fuel-cell systems production capacity to 700,000 units by 2030 and explore new business opportunities to supply its world-class fuel-cell systems to other transportation manufacturers of automobiles, drones, vessels, rolling stocks and forklifts.
The demand for fuel-cell systems from sectors beyond transportation such as power generation and storage systems is also expected to emerge quickly.
“Hyundai Motor Group, the global pioneer of the commercial production of FCEV, is taking a bold step forward to expedite the realisation of a hydrogen society,’’ said Euisun Chung, Executive Vice Chairman of Hyundai Motor Group.
“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.”
The ‘FCEV Vision 2030’ roadmap will help Hyundai Motor Group and its suppliers invest approximately KRW 7.6 trillion in R&D and facility expansion, which is expected to create approximately 51,000 jobs by 2030.
The Group plans to secure a 500,000-units-a–year FCEV production capacity by 2030, including passenger vehicles and commercial vehicles, in anticipation of high demand for global FCEVs expanding to around 2million units a year within that timeframe.
The Hydrogen Council, a global initiative of leading energy, transport and industry companies including Hyundai Motor, predicts the annual demand for hydrogen will increase tenfold by 2050, thereby creating diverse opportunities for sustainable economic growth.
