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Hyundai to boost hydrogen fuel cell production to 700,000 units

Hyundai Motor Group will extend its production of hydrogen fuel-cell technology beyond its cars, as part of its ‘FCEV Vision 2030’.

The Korean brand aims to produce 700,000 fuel-cell systems annually by 2030, including 500,000 units for FCEVs, as part of its plans which will see the propulsion method introduced into drones, vessels, rolling stocks, forklifts and power generators.

An investment of KRW 7.6 trillion won (over £5.3bn) in the technology by 2030, creating 51,000 jobs in the process.

“Hyundai Motor Group, the global pioneer of the commercial production of FCEV, is taking a bold step forward to expedite the realisation of a hydrogen society,’’ said Euisun Chung, executive vice chairman of Hyundai Motor Group.

 

PowerHouse Energy (LON:PHE) has developed a proprietary process technology called DMG® which can use waste plastic end-of-life-tyres and other waste streams to convert them into cost efficient energy in the form of electricity and ultra clean hydrogen gas fuel for use in cars and commercial vehicles (FCEV: Fuel Cell Electric Vehicles) and other industrial uses. The PowerHouse technology is the world’s first proven, modular hydrogen from waste (HfW) process.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.