PMV Middle East - - FRONT END -

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 Mo­tor Group (The Group) 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.

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.

As the first step to ful­fil the ‘FCEV Vi­sion 2030’, HMG’S fuel-cell sys­tem man­u­fac­tur­ing af­fil­i­ate Hyundai Mo­bis Co. held a ground-break­ing cer­e­mony for its sec­ond fuel-cell sys­tem plant in Chungju, South Korea. The sec­ond fac­tory will help Mo­bis in­crease an­nual fuel-cell sys­tem out­put to 40,000 units by 2022, up from the cur­rent 3,000 units.

The Group’s flag­ship au­tomak­ing af­fil­i­ate Hyundai Mo­tor ear­lier this year launched

NEXO, its sec­ond-gen­er­a­tion com­mer­cial­ized FCEV, 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.

The Group plans to fur­ther ad­vance the fuel-cell sys­tem used in NEXO mod­els to up­grade and di­ver­sify its fuel-cell sys­tem lineup, so it can re­spond to de­mands from var­i­ous in­dus­try sec­tors. Re­cently, at the IAA Com­mer­cial Ve­hi­cles 2018 expo, Hyundai gave a glimpse of its new truck with fuel cell pow­er­train which will be launched in 2019.

In De­cem­ber, Hyundai Mo­tor Group es­tab­lished a ded­i­cated divi­sion to de­velop and sup­port fuel-cell sys­tem busi­nesses.

The Group’s pro­pri­etary fuel cell sys­tem com­bines hy­dro­gen fuel with oxy­gen taken from the air to pro­duce elec­tric­ity. With­out com­bus­tion, the sys­tem only emits wa­ter as a by-prod­uct whilst also pu­ri­fy­ing pol­luted air, mak­ing it the ul­ti­mate source of clean en­ergy.

With high en­ergy den­sity and ease of stack re­fu­elling, hy­dro­gen would help re­duce the com­pre­hen­sive own­er­ship costs by about 10% for all pos­si­ble trans­porta­tion means in­clud­ing rolling stocks, ves­sels and fork­lifts, ac­cord­ing to a study by Mckin­sey & Com­pany. The study also es­ti­mates that ap­prox­i­mately 5.5 mil­lion~6.5 mil­lion fuel cell sys­tem units will be re­quired by 2030 glob­ally.

HMG is the only com­pany to estab­lish a ded­i­cated plant for com­mer­cial pro­duc­tion of fuel cell sys­tems. With the con­struc­tion of an ad­di­tional fuel cell plant, Hyundai can quickly tar­get mar­ket suc­cess on a global scale.

The Hy­dro­gen Coun­cil, a global ini­tia­tive of lead­ing en­ergy, trans­port and in­dus­try com­pa­nies in­clud­ing Hyundai Mo­tor, pre­dicts the an­nual de­mand for hy­dro­gen would in­crease ten­fold by 2050, thereby cre­at­ing di­verse op­por­tu­ni­ties for sus­tain­able eco­nomic growth.

Euisun Chung, ex­ec­u­tive vice chair­man, Hyundai Mo­tor Group, said: “Hyundai Mo­tor Group is tak­ing a bold step for­ward to ex­pe­dite the re­al­iza­tion of a hy­dro­gen so­ci­ety. 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.”

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