18 Sep Hyundai Motors expands its hydrogen business
Hyundai Motor Company is expanding its hydrogen business to include non-mobility applications.
The company has exported its 95 kilowatt hydrogen fuel cell system to two European clients – GRZ Technologies and an undisclosed energy solution start-up. Both clients will incorporate Hyundai’s technology into emergency power mobile generators.
In a recent meeting, Hyundai also reaffirmed its strategy to become a leading global hydrogen mobility supplier. The company aims to produce 11,000 hydrogen cars this year and increase to 40,000 units per year by 2022. Hyundai also plans to enter the hydrogen commercial vehicle market in Europe, America and China by 2022.
“Hyundai is maintaining its lead in the hydrogen passenger and commercial markets,” said Chung Yong-jin, a senior researcher at Shinhan Investment Corp.
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