Hyundai Construction Equipment to Achieve 'Carbon Neutrality' at All Sites by 2050

Hyundai Construction Equipment's 1.8-ton electric excavator model scheduled for release in early 2023.

Hyundai Heavy Industries Group's construction equipment division consisting of three companies (Hyundai Genuine, Hyundai Construction Equipment·Hyundai Doosan Infracore) announced on the 16th that they will achieve ‘carbon neutrality’ at all domestic and overseas business sites by 2050.

Hyundai Construction Equipment, an affiliate of Hyundai Genuine, following Hyundai Doosan Infracore, announced plans to achieve ‘carbon neutrality’ at all business sites including its headquarters in Ulsan, China, and India by 2050. In addition, Hyundai Genuine, the holding company of the construction equipment division, also decided to achieve carbon neutrality at its business sites by 2050.

Hyundai Construction Equipment recently presented a mid- to long-term roadmap for climate change response, including an ‘action plan for carbon neutrality at business sites’ and an ‘eco-friendly product business strategy.’ Based on the ‘Science Based Targets initiative (SBTi) 1.5℃ scenario,’ Hyundai Construction Equipment plans to reduce its annual carbon emissions by 42% by 2030 compared to 2021. It aims to reduce emissions by 71% by 2040 and ultimately achieve carbon neutrality by 2050.

To achieve carbon neutrality, Hyundai Construction Equipment will improve production efficiency through process improvements at all global business sites including domestic production plants as well as those in China, India, and Brazil, and promote a transition to renewable energy.

In particular, domestic business sites such as Ulsan and Gunsan plan to achieve ‘RE100 (100% renewable energy for electricity used by companies)’ by 2025 through self-generation and Power Purchase Agreements (PPA). The main production base, Ulsan plant, will install 2MWp (megawatt peak) rooftop solar panels to directly supply a minimum amount of electricity.

Hyundai Construction Equipment is also promoting a transition to eco-friendly business to reduce carbon emissions from product use. By restructuring its portfolio to focus on products incorporating electric batteries, hydrogen fuel cells, hybrid power, and fuel efficiency technologies, it plans for eco-friendly products to account for 83% of total sales by 2030 and 97% by 2040.

To this end, Hyundai Construction Equipment plans to introduce the second-generation equipment based on an electric-only platform in 2023 and establish a lineup of mini and small electric excavators by 2026. The world’s first developed 14-ton hydrogen wheel excavator will enter mass production starting in 2026.

Choi Cheol-gon, President of Hyundai Construction Equipment, said, “Carbon neutrality is a promise to the next generation to create a better future,” and added, “The Ulsan plant modernization project, which involves an investment of 200 billion KRW, will be the first step toward achieving carbon neutrality by building an eco-friendly business site.”

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