Hyundai Mobis to Invest 1.3 Trillion KRW in New Hydrogen Fuel Cell Plants in Incheon and Ulsan

Hyundai Mobis Holds Groundbreaking Ceremony at Incheon Cheongna Plant... President Moon Attends
Establishing Production System for 100,000 Hydrogen Fuel Cell Systems... Full-Scale Mass Production Planned for Second Half of 2023
Fuel Cell Stack Production in Incheon Cheongna → System Completion in Ulsan for Vehicle Supply Planned

[Asia Economy Reporter Yu Je-hoon] Hyundai Mobis is adding two new hydrogen fuel cell production bases in Incheon and Ulsan to revitalize the hydrogen economy and secure a leading position in the global fuel cell sector. Hyundai Motor Group plans to leverage this to accelerate its strategy to strengthen global hydrogen mobility leadership at the group level.

On the afternoon of the 7th, Hyundai Mobis held a groundbreaking ceremony for a new factory to produce hydrogen fuel cell stacks at the advanced industrial complex in Cheongna International City, Seo-gu, Incheon. The event was attended by President Moon Jae-in, Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki, as well as government officials, related organizations, and corporate representatives.

The hydrogen fuel cells to be produced in Incheon and Ulsan will have an annual production capacity of 100,000 units. The new bases are scheduled to be completed in the second half of next year, undergo test production, and begin full-scale mass production from the second half of 2023. Hyundai Mobis’s total investment is approximately 1.3 trillion KRW.

With the addition of these two new bases, Hyundai Mobis’s hydrogen fuel cell production plants will increase to three locations domestically. Previously, in 2018, Hyundai Mobis established the world’s first integrated hydrogen fuel cell system production line in Chungju, Chungbuk. The current production capacity of the Chungju plant reaches 23,000 units annually.

Cho Sung-hwan, President of Hyundai Mobis, stated, "Despite uncertain management conditions both domestically and internationally due to COVID-19, we decided on a large-scale investment to secure leading competitiveness in the global fuel cell industry," adding, "We will continue to strengthen facility investments and R&D capabilities to promote the development of the hydrogen industry and expand the ecosystem."

Connecting Incheon → Ulsan → Finished Vehicles... Optimizing Production and Operation Systems

Hyundai Mobis plans to operate the newly established hydrogen fuel cell factories with an optimized production system through process dualization. The Cheongna plant in Incheon will produce fuel cell stacks, which will then be delivered to the Ulsan plant, where they will be combined with hydrogen and air supply devices and thermal management units to create the final fuel cell system product, which will be supplied to finished vehicles.

Cheongna in Incheon benefits from a hydrogen cluster promoted by local governments, facilitating collaboration among hydrogen-related industries and securing research personnel. Ulsan’s proximity to the finished vehicle production complex enhances supply and operational efficiency. Hyundai Mobis expects to leverage these locations to recruit regionally specialized personnel for each process.

Expanding Product Lineup Applying Fuel Cell Systems... Diversifying Business

With the establishment of the new production bases, Hyundai Mobis plans to expand its product lineup applying fuel cell systems and diversify its business. Currently, fuel cells are mainly used for vehicles, but the company anticipates expanding into non-vehicle sectors such as construction machinery and logistics equipment.

Last year, Hyundai Mobis independently developed a fuel cell powerpack for hydrogen forklifts, opening possibilities for fuel cell applications in the construction machinery sector. This powerpack is a generator that produces electricity independently, integrating the fuel cell stack, hydrogen tank, and cooling system. It is a fuel cell system optimized for forklifts based on automotive fuel cell systems.

Additionally, Hyundai Mobis is developing a powerpack for hydrogen excavators and plans to expand its fuel cell system-applied product lineup into various fields such as special-purpose vehicles and small aircraft in the future.

A Hyundai Mobis official said, "The establishment of these new bases is aimed at expanding mass production capacity of fuel cell systems as the global hydrogen market enters a growth phase and securing a leading position in the global fuel cell industry," adding, "We will focus on facility investment, strengthening R&D capabilities, and business diversification through strategic partnerships to respond to the expansion of the global hydrogen industry and market."

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