SEOUL, March 2 (Korea Bizwire) — Hyundai Motor Group said Tuesday it will build its first overseas hydrogen fuel-cell systems plant in China by next year to make inroads into the local hydrogen vehicle market.
Hyundai Motor began construction of the HWO Gwangzhou hydrogen fuel-cell systems plant with an aim to initially produce 6,500 units a year, the company said in a statement.
The HTWO Gwangzhou plant will be wholly owned by the Korean automotive group.
Hyundai expects demand for hydrogen fuel-cell systems to grow further in China, the world’s biggest automobile market, as the Chinese government seeks to provide 1 million hydrogen-powered vehicles by 2035.
In its broad hydrogen road map, Hyundai aims to produce 500,000 hydrogen vehicles and 700,000 hydrogen fuel-cell systems by 2030 to cement its leading status in global hydrogen vehicle markets.
Hyundai currently operates a domestic hydrogen fuel-cell systems plant. It also plans to build the plants in Europe and the United States.