Hyundai Announces its ‘FCEV Vision 2030' to Accelerate Fuel Cell Vehicle Production
【Summary】Hyundai Motor Group, which includes automotive brands Hyundai and Kia, today announced its long-term roadmap called ‘FCEV Vision 2030’ plan, as the company reaffirms its commitment to accelerate the development of hydrogen fuel-cell technologies.
Hyundai Motor Group, which includes automotive brands Hyundai and Kia, today announced its long-term roadmap called ‘FCEV Vision 2030' plan, as the company reaffirms its commitment to accelerate the development of hydrogen fuel-cell technologies.
As part of the plan, the Hyundai Motor Group will increase its annual fuel-cell production capacity to 700,000 units by 2030 and explore new business opportunities to supply fuel-cell systems to other transportation manufacturers of automobiles, drones, vessels and forklifts. The demand for fuel-cell systems from sectors beyond transportation such as power generation and storage systems is also expected to emerge quickly.
"Hyundai Motor Group, the global pioneer of the commercial production of fuel cell electric vehicles (FCEV), is taking a bold step forward to expedite the realization of a hydrogen society,'' said Euisun Chung, Executive Vice Chairman of Hyundai Motor Group. "We will expand our role beyond the automotive transportation sector and play a pivotal role in global society's transition to clean energy by helping make hydrogen an economically viable energy source. We are confident that hydrogen power will transcend the transportation sector and become a leading global economic success.
The ‘FCEV Vision 2030' roadmap will help Hyundai Motor Group and its suppliers invest approximately KRW 7.6 trillion in research and development and facility expansion, which is expected to create approximately 51,000 jobs by 2030.
Hyundai plans to have a 500,000 vehicle per year FCEV production capacity by 2030, including passenger vehicles and commercial vehicles, in anticipation of high demand for hydrogen-powered vehicles. Eventually, Hyundai wants to increase production to 2 million vehicles per year by 2030.
The fuel-cell NEXO SUV was unveiled at CES 2018 in January of this year.
Hyundai is building a new factory for fuel-cell production. Hyundai Motor Group affiliate Hyundai Mobis Co. held a groundbreaking ceremony for its second fuel-cell system plant in Chungju, South Korea. The second factory will help Mobis increase annual fuel-cell system output to 40,000 units by 2022, up from the current 3,000 units.
Earlier this year, Hyundai Motor launched NEXO SUV, its second-generation FCEV. The NEXO improves upon the Tucson FCEV, first introduced in 2013. The NEXO was built on Hyundai's first dedicated fuel-cell vehicle architecture, which provides many structural benefits including lighter weight, a bigger interior space for passengers and improved fuel-cell system layout.
The Group plans to further advance the fuel-cell system used in NEXO models to upgrade and diversify its fuel-cell system lineup, so it can respond to demands from various industry sectors.
In December, Hyundai Motor Group established a dedicated division to develop and support fuel-cell system businesses.
Fuel cell systems combine hydrogen fuel with oxygen taken from the air to produce electricity using a fuel cell. Without a internal combustion engine, the system only emits water as a by-product.
Hyundai is the only company to establish a dedicated plan for commercial production of fuel cell systems. Toyota has been developing FCVs since the early 1990s and released the Mirai fuel-cell vehicle to U.S. customers in Oct 2015.
Mercedes Benz is working on the Mercedes-Benz GLC F-Cell model, which combines a fuel cell with a battery that can be charged via a wall socket, easing driver concerns about refueling with hydrogen.
Toyota said in July it would begin a phased introduction of other FCEV models, including a range of SUVs, pick-up trucks, and commercial trucks beginning around 2025. Toyota plans to showcase its fuel-cell technology at the 2020 Olympics in Tokyo.
The Hydrogen Council, a global initiative of leading energy, transport and industry companies including Hyundai Motor, predicts the annual demand for hydrogen powered technology would increase tenfold by 2050.
The Hyundai NEXO fuel-cell SUV is scheduled to arrive at U.S. dealers in January with a starting price of $59,435.
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