This photo taken on Sept. 7, 2021, and provided by Hyundai Motor Group shows the carmaker’s Chairman Chung Euisun briefing on the group’s hydrogen vehicle plans at the Hydrogen Wave global online forum.
SEOUL, Sept. 7 (Korea Bizwire) — Hyundai Motor Co. said Tuesday it will apply the hydrogen fuel-cell system to all of its commercial vehicle models by 2028 as it seeks to gain a leading status in the hydrogen vehicle market.
South Korea’s top automaker plans to release all of its new heavy-duty trucks, buses and other commercial vehicles as hydrogen fuel-cell electric models, with some of the hydrogen models to be also available as battery-powered ones, Hyundai Motor Group Chairman Chung Euisun said at the Hydrogen Wave global online forum.
On top of vehicles, Hyundai aims to explore new business opportunities by applying the hydrogen fuel-cell systems not only to other mobility solutions, such as trams, trains, ships and urban air mobility (UAM), but also to buildings, power plants and urban energy sources.
Hyundai also plans to expand the use of hydrogen fuel cells in different areas including robots and environment friendly generators by 2040, Chung said.
It is the first time for a carmaker to announce its plans to replace all of its combustion engine-based commercial vehicle models with electric ones.
The move is in line with the carmaker’s plan to raise the ratio of electrified vehicles to 80 percent by 2040 in global sales.
All-electric and hydrogen electric models currently account for a mere 1.5 percent of Hyundai’s global sales, and it initially aims to raise the ratio to 30 percent by 2030.
Hyundai Motor also plans to expand the hydrogen-powered passenger vehicle lineup to three from the sole model Nexo. The two additional models will be a multi-purpose vehicle and a sport utility vehicle.
As for the reasons behind Hyundai’s aggressive hydrogen push, Chung said, “Both battery and fuel-cell technologies and products are essential to make the transition to zero emission mobility. Fighting climate change and shifting to renewable energy won’t be achieved without hydrogen.”
This file photo provided by Hyundai Motor shows a hydrogen-powered tractor.
In the past decade, Hyundai has increased investments in developing hydrogen vehicles and related technologies. In 2013, Hyundai introduced its first fuel-cell model Tucson, and it became the first manufacturer to commercialize heavy-duty trucks last year.
Recently, it is focusing on strengthening its all-electric vehicle lineup as well in line with rival carmakers’ electrification push.
The production costs for hydrogen energy would be halved within the next 10 years, helped by the rapid development of hydrogen-related technologies, according to a McKinsey report.
It also said using hydrogen for transport and other industries could reduce carbon emissions by 6 billion tons every year and create 30 million new jobs by 2050.
In the January-July period, Hyundai sold a total of 5,300 units of fuel cell vehicles, beating its archrival Toyota Motor Corp. and Honda Motor Co., which sold 4,100 and 200 units, respectively, during the same period.
Hyundai’s hydrogen car sales jumped 44 percent in the first seven months from 3,600 units a year earlier to grab 51 percent of the global market, while Toyota’s sales rose eight times from 500 units.
Hyundai’s independent Genesis brand also plans to launch only hydrogen or battery-based models from 2025 to meet changing market demand.
To further promote their hydrogen push, Hyundai and its 124 suppliers plan to collectively invest 7.6 trillion won (US$6.7 billion) in hydrogen fuel cell electric car-producing facilities and related R&D activities by 2030.
From January to August, Hyundai’s overall sales rose 18 percent to 2.64 million vehicles from 2.24 million units in the year-ago period.
Hyundai aims to sell 4.16 million vehicles this year, 11 percent higher than the 3.74 million units it sold last year.
(Yonhap)
