Hyundai Motor Group, including automotive brands Hyundai Motor Company and Kia Motors Corporation, has announced its long-term roadmap FCEV Vision 2030 plan. As part of this, the group has reaffirmed its commitment to accelerating fuel-cell technology development.
Aligned with the roadmap, the group will boost its annual fuel-cell systems production capacity to 700,000 units by 2030 and explore new business opportunities to supply its fuel-cell systems to automobile, drone, vessel, rolling stock and forklift manufacturers.
“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 FCEV Vision 2030 roadmap will help Hyundai Motor Group and its suppliers invest approximately US$6.7bn (KRW 7.6tr) in R&D and facility expansion, which is expected to create approximately 51,000 jobs by 2030.
A 500,000-units-per-year FCEV production capacity is expected to be secured by 2030, including passenger vehicles and commercial vehicles, in anticipation of global FCEV demand expanding to 2 million units per year within that timeframe.