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Seoul, March 11: Hyundai Motor plans to build its first hydrogen fuel cell systems plant in South Korea for the start of operations in 2028, the company's labour union claimed on Tuesday. Hyundai Motor currently operates a hydrogen fuel cell systems plant in China. If built, the domestic facility will be the carmaker's second such plant globally.
The company will begin the plant's construction within the year at its mainstay car manufacturing plant in Ulsan, about 305 kilometers southeast of Seoul, according to the union website, reports Yonhap news agency. "To push ahead with the plan, there should be consultations between the company and the union," a company spokesperson said, without elaborating. Maharashtra Budget 2025-26: Government Proposes 6% Tax on EVs Priced More Than INR 30 Lakh, Announces 1% Hike in Motor Vehicle Tax on CNG and LPG Vehicles.
If confirmed, Hydrogen fuel cell systems produced at the new plant may be used in the Nexo hydrogen fuel cell electric vehicle (EV), hydrogen-powered Elec City bus and hydrogen trucks. The first plant in Guangzhou began operations in 2023. It is capable of manufacturing hydrogen fuel cell systems that can power 6,500 hydrogen commercial vehicles.
Meanwhile, the government will spend 129.3 billion won ($88.6 million) this year to support projects aimed at developing technologies that will help achieve carbon neutrality and ensure a stable supply of energy.
The projects include developing technologies related to renewable energy, such as next-generation solar power and hydrogen power, and the efficient operation of nuclear power plants as part of efforts to help South Korea achieve net zero carbon emissions. Tesla Model Y 2025: Elon Musk Highlights New Redesigned EV With Futuristic Features and USD 46,490 Starting Price (Watch Video). South Korea has pledged to reduce its greenhouse gas emissions by 40 per cent from the 2018 levels by 2030 and reach carbon neutrality by 2050.
Part of the funds will also be funnelled into enhancing stability in the nation's energy supply amid soaring demand for electricity sparked by the development of artificial intelligence (AI) and other cutting-edge technologies, as well as climate change. (The above story first appeared on LatestLY on Mar 11, 2025 01:22 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.
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