Hyundai Motor Co. said Saturday it will produce hydrogen fuel-cell electric commercial vehicles in its Chinese plant to make inroads into the local electric vehicle market.
In the China EV100 Forum held in Beijing from Jan. 10-12, Executive Vice President Lee In-cheon, head of Hyundai’s Commercial Vehicle Business Division, unveiled the plan.
In August last year, the Hyundai executive said the hydrogen commercial car production plan will begin in 2023 if the company makes the decision.
Sichuan Hyundai Motor Co., a 50:50 joint venture set up between Hyundai Motor and Sichuan Nanjun Automobile Group Co. in 2012, is expected to be in charge of the hydrogen commercial car production.
Hyundai produces 1.05 million vehicles, in China, the world’s biggest automobile market, out of its overall vehicle production of 3.74 million units.
Meanwhile, Hyundai aims to sell 10,100 Nexo hydrogen passenger cars mainly to public organizations and companies this year, sharply up from 4,194 units it sold last year.
To take the lead in the hydrogen vehicle market, Hyundai announced in late 2018 its plan to invest 7.6 trillion won for partnerships with auto parts companies, research and development activities and facility expansion by 2030.
The number of Nexo vehicles sold outside the country totaled 1,015 units in the past two years.—APP