Date: April 15, 2024. — Hyundai Motor Group is set to expand its operations at the HTWO Guangzhou facility, which is the company’s overseas hydrogen fuel cell system production plant. The expansion includes the initiation of pilot projects for commercial hydrogen fuel cell vehicles within this year. Lee Hyuk-joon, executive vice president of Hyundai Motor Group China, made the announcement during the 10th Annual Guangzhou International Investment Conference.
The HTWO Guangzhou facility began operations in June last year and has the capacity to produce 6,500 hydrogen fuel cell systems annually. This initiative is part of Hyundai’s broader efforts to promote hydrogen fuel cell technology and to position Guangzhou as a major center for hydrogen energy. The company has previously announced plans to deliver 1,500 hydrogen-powered commercial vehicles, such as trucks and cleaning vehicles, to public enterprises in Guangdong Province and Guangzhou City.
The Guangdong provincial government introduced investment-friendly policies to support the expansion, aiming to boost the competitiveness of the manufacturing sector and enhance the overall investment climate. These efforts have led to a significant increase in foreign direct investment in Guangzhou, with over 1,000 new foreign-invested companies established in the first two months of this year alone.
Hyundai’s commitment to hydrogen technology aligns with China’s growing demand for hydrogen vehicles, positioning the country to become one of the largest markets for hydrogen electric vehicles globally by 2035. Moreover, the China Society of Automotive Engineers has set a target to deploy 1 million hydrogen electric vehicles, primarily commercial, by 2035.
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