The South Korean auto supplier Hyundai Mobis, which belongs to the Hyundai Motor Group, is building two new plants for hydrogen fuel cell systems in South Korea. The factories in Incheon and Ulsan are expected to start production in the second half of 2023, the company said. The annual capacity will be 100,000 systems in full operation. The investment will amount to the equivalent of 1.1 billion US dollars.
Hyundai Mobis hopes that the move will diversify its business by tapping into customers in the construction machinery and logistics equipment sectors. The communication also mentions the supplier securing “broader global market dominance”. As soon as the new plants are up and running, Hyundai Mobis will operate three fuel cell plants together with the Chungju plant.
Not just aggregates for cars
Most of the fuel cell systems manufactured by Hyundai Mobis are used in fuel cell electric vehicles. The company has also developed fuel cell units for hydrogen forklift trucks and is working on units for hydrogen-powered excavators. Systems for small air mobility are therefore also being planned.
According to its own information, Hyundai Mobis is the seventh largest automotive supplier in the world with annual sales of almost 30 billion US dollars and more than 30,000 employees. (mer)
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