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Hyundai Mobis to invest 1.3 tln won in hydrogen fuel-cell plants

Industry 16:21 August 20, 2021

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.

kyongae.choi@yna.co.kr
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