South Korean Hyundai Mobis automotive supplier invests $ 1 billion in expanding fuel cell production capacity
Hyundai Mobis invests 1.3 trillion won ( $ 1.09 billion) to build two new plants to produce hydrogen-based fuel cells. One plant will produce fuel cells in Incheon, west of Seoul, and the other plant in Ulsan will produce fuel cell powertrains. The plant will produce 100,000 drive drives for vehicles manufactured by Hyundai Motor Group annually and begin production in 2023. Hyundai Mobis’ current fuel cell plant produces 23,000 propulsion units per year
Hyundai Motor currently manufactures a hydrogen fuel cell passenger car under the Nexo brand. The fuel cell propulsion will be extended by the automaker by 2028 to all commercial vehicle models, including heavy trucks, buses and construction equipment. Hyundai aims to become a leader in the global market for hydrogen-powered fuel cell vehicles
The decision to increase fuel cell production capacity has put the company ahead of the expected growth demand for the propulsion system, according to a statement from Hyundai Mobis .
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