SEOUL, Aug. 20 (Yonhap) -- Hyundai Mobis Co., South Korea's biggest auto parts maker, said Friday it will invest 1.32 trillion won (US$1.1 billion) in two local hydrogen fuel-cell plants by 2025.
Hyundai Mobis plans to build a hydrogen fuel-cell stack plant in Incheon, just west of Seoul, and a hydrogen fuel-cell systems assembly plant in Ulsan, 414 kilometers southeast of Seoul, the company said in a statement.
The fuel-cell stack consists of a stack containing up to several hundred fuel cells. It forms the heart of the fuel-cell power system.
"We aim to start the production of fuel-cell stacks and systems at the plants in 2023 and complete the investment by 2025," a company spokeswoman said.
The company is expected to supply the assembled hydrogen fuel-cell systems for Hyundai Motor's hydrogen-powered vehicles.
Hyundai Mobis, Hyundai Motor Co. and Kia Corp. are key affiliates of Hyundai Motor Group.
(News Focus) No parcel day: Why S. Korean delivery workers are taking a day off on Aug. 14
Advertising controversy grips S. Korean mukbang YouTubers
Seoul's last-ditch home supply plan still in doubt over its viability
Korean foodmakers ramp up overseas push amid COVID-19 pandemic
Bumpy road lies ahead for Samsung, even after heir avoids detention