Hyundai Mobis to build two new fuel cell plants in Korea

Automobile 2021-10-10

newsteamz_Hyundai Mobis to build two new fuel cell plants in Korea
  • Hyundai Mobis, a subsidiary of South Korean automaker Hyundai, is building two new fuel cell plants in Korea.

  • The Indian Autos Blog reports that the groundbreaking ceremony for the new plant, which manufactures hydrogen fuel cell stacks, was held at the Industrial Complex in Chiongona International City, Incheon.

  • Hyundai Mobis has announced a total investment of US $ 1.1 billion at the two plants.

Hyundai Mobis, a subsidiary of South Korean automaker Hyundai, is building two new fuel cell plants in Korea. The Indian Autos Blog reports that the groundbreaking ceremony for the new plant, which manufactures hydrogen fuel cell stacks, was held at the Industrial Complex in Chiongona International City, Incheon.

Hyundai Mobis has announced a total investment of US $ 1.1 billion at the two plants. The new plants will start mass production in the second half of 2023. When fully operational, the facility is expected to produce 100,000 hydrogen fuel cells each year.

Hyundai Mobis, the world's largest fuel cell producer, hopes to add more energy to the global competition for hydrogen fuel by adding new production sites. When completed, Hyundai Mobis will reportedly operate a total of three fuel cell plants.

The company says it has decided to make this large-scale investment to ensure market competitiveness in the global fuel cell industry, despite uncertainties, including Covid19. The company said it would invest in more facilities and strengthen its research and development capabilities to develop the hydrogen industry and expand its habitat.

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