Hyundai Motor to build hydrogen fuel cell factory in Ulsan, second in the world and first in Korea (South Korea)

It has been revealed that Hyundai Motor has decided to build a hydrogen fuel cell factory in Ulsan. According to industry and labor union sources, construction of the hydrogen fuel cell factory will begin within the year and produce hydrogen by 2022.
Mass production is expected to begin in 2020. This will be Hyundai's second hydrogen fuel cell factory, following one that opened in Guangzhou, China in June 2023, and the first in South Korea.
By building a hydrogen fuel cell factory in South Korea, Hyundai Motor hopes to accelerate the growth of its hydrogen business.
In the same month, the company acquired the hydrogen fuel cell business in South Korea that was held by parts manufacturer Hyundai Mobis. It also launched the hydrogen value chain business brand "HTWO" and is promoting the development of hydrogen fuel cell businesses based on this.
Hyundai Motor plans to add "hydrogen business and other related businesses" to its business objectives at its general shareholders' meeting on the 20th, and will explore policies to grow its hydrogen business.