Hyundai Motor Group 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 their 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 cars, 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 is taking a bold step forward to expedite the realization 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 Group plans to secure a 500,000-units-a year production capacity by 2030, including passenger vehicles and commercial vehicles, in anticipation of high demand for global fuel cell vehicles expanding to around 2 million units a year within that timeframe.
The Group’s flagship auto-making affiliate Hyundai Motor earlier this year launched NEXO, its second-generation commercialized fuel cell vehicle, improving upon the acclaimed Tucson FCEV introduced in 2013. NEXO was built on Hyundai’s first dedicated fuel cell vehicle architecture, which provides many structural benefits including lighter weight, increased cabin space and improved fuel-cell system layout.