Hyundai Motor Group announced an investment contract with the government of Guangdong Province to establish an offshore fuel cell system production facility in Guangzhou, China. The investment advances the Group’s global hydrogen leadership and supports its push into China’s rapidly developing hydrogen industry.
Attendees at the signing ceremony included Kwang Guk Lee, President and Head of China Operations at the Group; Hyuk Joon Lee, Senior Vice President and Chief Government Affairs Officer of Hyundai Motor Group China Ltd.; Lin Keqing, Executive Vice Governor of Guangdong Province; Hu Hong, Vice Mayor of Guangzhou Municipal Government; and Chen Yong, District Chief of Huangpu District Guangzhou Municipal Government.
Construction is scheduled to begin next month and will be completed by the second half of 2022. The plant will be the Group’s first fuel cell production base outside of Korea, with the initial capacity to produce 6,500 units of fuel cell systems per year. The Group will gradually increase the capacity in line with market demand.
China’s rapidly growing fuel cell system industry
The Guangzhou plant will leverage the Group’s extensive expertise in fuel cell system production to secure a technological leadership position in China’s rapidly developing hydrogen industry. At the new plant, the Group will manufacture the same proven fuel cell systems that are used for Hyundai Motor’s NEXO fuel cell electric SUV.
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.
Global companies from Japan, Germany, the UK 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.
In October 2020, the China Society of Automotive Engineers released a technology roadmap, under the guidance of the Ministry of Industry and Information Technology. The roadmap reflects China’s ambition to foster a hydrogen economy, adding that the country aims to have 1 million FCEVs on its roads by 2035 centering on commercial vehicles.
✔️ Hyundai’s first offshore fuel cell system plant to be built in Guangzhou, China
✔️ Construction to begin next month, to be completed in the second half of 2022
✔️ New plant will initially produce 6,500 fuel cell systems a year and aims to gradually increase capacity in line with market demand
✔️ Investment advances the Group’s global hydrogen leadership and supports its push into China’s rapidly growing hydrogen industry
Hyundai Motor Group Advances Hydrogen Strategy with New Fuel Cell System Plant in Guangzhou, Seoul, January 15, 2021
