Hyundai Mobis to build two fuel cell plants

New plants to start mass production in second half of 2023 and expected to produce 100,000 hydrogen fuel cells a year

Vehicle component manufacturer Hyundai Mobis—an affiliate of automaker Hyundai—is investing $1.1bn to build two new fuel cell plants in Incheon, South Korea. The new plants will start mass production in the second half of 2023 and are expected to produce 100,000 hydrogen fuel cells every year. The plants, when added to the company’s existing facility in Cungju, will give Hyundai Mobis the largest fuel cell production capacity in the world. “Despite uncertainties including Covid-19, we have decided to make this large-scale investment to secure the market-leading competitiveness in the global fuel cell industry,” says Hyundai Mobis CEO Sung Hwan Cho. Most fuel cell systems produced by Hyundai