Hyundai Motor has made a significant acquisition in a strategic move to bolster its position as a frontrunner in the burgeoning hydrogen energy sector. The South Korean automotive giant has announced its acquisition of Hyundai Mobis' hydrogen fuel cell business, signaling its intent to fortify its foothold in the hydrogen value chain.
According to Chosun Ilbo, Hyundai Motor's decision to acquire Hyundai Mobis' hydrogen fuel cell arm underscores its commitment to streamlining its research and development efforts with production capabilities. This integration aims to foster a more cohesive approach to advancing its hydrogen energy initiatives.
The announcement during CES 2024 marked a pivotal moment for Hyundai Motor. The company unveiled its ambitious plans to expand its original fuel cell brand, "HTWO," into a comprehensive hydrogen value chain business under the Hyundai Motor Group umbrella. The unveiling of the "HTWO Grid" solution further underscored Hyundai's commitment to driving innovation in the hydrogen energy sector.
Through this strategic acquisition, Hyundai Motor seeks to establish an end-to-end hydrogen value chain encompassing research, manufacturing, and vehicle production. By enhancing the quality of hydrogen fuel cell systems, Hyundai aims to position hydrogen fuel cell vehicles as compelling contenders in the automotive market. Moreover, the acquisition allows Hyundai Motor to integrate hydrogen fuel cell production into its existing manufacturing processes, thereby gaining access to cutting-edge technology and fostering collaborations in the field.
Hyundai Motor is poised to maintain its leadership in the hydrogen fuel cell electric vehicle market. Plans are underway to launch the next generation of the Nexo in 2025, alongside diversification efforts spanning various sectors, including power generation, surface transit, ports, ships, and Advanced Air Mobility (AAM).
Hyundai Motor asserts that hydrogen fuel cells represent the cornerstone of the hydrogen energy ecosystem. The company aims to accelerate innovation in hydrogen-powered transportation and drive progress toward a hydrogen-powered society through seamless integration across the value chain.
