Hyundai Motor Group breaks ground on fuel cell system facility in Guangzhou, China

WCN Editorial Team 2 Mar 2021 ASIA BUILDINGS

Hyundai Motor Group has held a virtual groundbreaking ceremony for HTWO Guangzhou fuel cell system facility in China.

This is the firm’s first fuel cell system facility outside of South Korea.

The facility will support the firm’s push into the quickly developing hydrogen industry of China.

Hyundai Motor Group Chairman Euisun Chung said: “The establishment of HTWO Guangzhou marks an important starting point for Hyundai Motor Group’s dedicated fuel cell system brand HTWO.

“Hyundai Motor Group will actively lead clean mobility innovations using its strategic partnerships, world-class technology, hydrogen business capabilities and related expertise.”

HTWO Guangzhou facility will serve as the production and sales hub.

It is being built in the Guangzhou development district of Guangdong Province. Construction of the facility is expected in the second half of 2022.

It will feature a fuel cell system plant and an innovation centre. The facility will be constructed on the 207,000m2 site.

Once constructed, it is expected to have an annual production target of 6,500 units, with a goal to slowly expand production capacity to meet the requirements of Chinese market.

In 2018, the firm announced its plans to boost its annual supply capacity to 700,000 hydrogen fuel cell systems by 2030, under roadmap ‘Fuel Cell Vision 2030’.

It formed several strategic partnerships with hydrogen, energy and logistics companies through which the firm is expanding its fuel cell system business. It intends to expand its HTWO brand in the markets of Korea, Europe, China and the US.

---------------------------------------------------------------------------------------------------------------------

Image: Once constructed, this will be the group’s first overseas fuel cell system facility outside of Korea. Credit: Hyundai Motor Company

With 11 websites and newsletters covering all the key areas within the construction industry, World Construction Industry Network is the leading global construction information resource. READ ABOUT US
PRIVACY POLICY

STAY IN TOUCH!

LATEST TWEETS

World Construction Network | www.worldconstructionnetwork.com is a product of GlobalData. Copyright © 2021 GlobalData. All rights reserved.