Hyundai Motor Company initiated the building of its new hydrogen fuel cell production plant in Ulsan, South Korea, taking a major step in its efforts to position the country as a global leader in the energy transition.
This ceremony was attended by some of the top dignitaries, including Jaehoon Chang, vice chair of Hyundai Motor Group; Minister Sungwhan Kim of the Ministry of Climate, Energy, and Environment; Vice Minister Shinhak Moon of the Ministry of Trade, Industry, and Resources; and several National Assembly members. Their presence alongside Ulsan Mayor Doo-gyeom Kim and other local officials threw a light on the importance of hydrogen as a national strategic industry and the strength of public-private collaboration.
The new plant will occupy 43,000 square meters on the site of an old internal combustion engine transmission plant, a representative shift that underscores Hyundai Motor's turn toward future mobility.
This strategic move focuses on positioning Hyundai Motor at the forefront of global hydrogen technology through two key products:
- Next-generation hydrogen fuel cell: Hyundai Motor targets enhancing both power output and durability compared to current models while achieving price competitiveness to lead the global market.
- PEM electrolyzers: The plant will produce high-efficiency polymer electrolyte membrane (PEM) electrolyzers as first production in Korea.
This project has made an investment of KRW 930 billion and will produce next-generation hydrogen fuel cells and electrolyzers for various mobility applications including passenger vehicles, commercial trucks and buses, construction equipment and marine vessels.
Executive Statement
According to Vice Chair Chang, this plant embodies Hyundai Motor Group's strategic commitment to advancing the hydrogen society transition. It will serve as a critical foundation for securing national economic growth momentum and establishing Korea's leadership in the global hydrogen industry.
