Hyundai Motor Company Identified as a Threatening Presence in the Race for Hydrogen, the Fuel of the Future

Nikkei Business-Astamuse Joint Survey on Patent Applications
Hyundai Motor Ranks 3rd in Corporate Competitiveness

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Amid the global decarbonization movement spotlighting hydrogen, Japan has identified Hyundai Motor Company as its most formidable competitor. Although Japan's Toyota leads overwhelmingly in the hydrogen market, Hyundai was mentioned as a company with the technological capability to compete for the top position.

On the 7th, Nikkei Business, in collaboration with Japan's intellectual property database operator Astamuse, investigated 170,000 patents filed worldwide between 2010 and 2019. The results showed Japan as the leading country in the hydrogen market, followed by China and the United States in second and third place, respectively. South Korea ranked fourth, with Germany in fifth place.

In the corporate competitiveness evaluation, Japanese companies prominently dominated the top 10. Toyota Motor Corporation secured first place with an overwhelming lead over the second place. Nissan ranked second, Honda fourth, and Panasonic seventh, making four Japanese companies in the top 10. Additionally, Japanese parts and materials makers such as Sumitomo Electric Industries, Kyocera, and Toray stood out within the top 10 rankings.

Astamuse analyzed the strong presence of Japanese companies, stating, "Japan has a concentration of excellent technologies across various fields, creating an environment conducive to commercializing hydrogen."

Among Korean companies in the top 10, Hyundai Motor Company ranked third, and LG Chem placed sixth.

While South Korea ranked fourth in national competitiveness and only two Korean companies made the top 10, Nikkei Business expressed concern by naming Hyundai as a competitor challenging Toyota for the leading position.

Nikkei Business reported, "South Korea's pursuit is fierce," adding, "Hyundai Motor Company is particularly a threatening presence."

Hyundai's fuel cell vehicle control technology, which accurately operates the motor in case of failure, was explained to have ranked third overall in patent competitiveness.

Nikkei Business analyzed, "Hyundai plans to equip fuel cells on all commercial vehicle models by 2028, competing head-to-head with Toyota for the top spot."

This content was produced with the assistance of AI translation services.