Hyundai Motor Drives Toward the Vision of a 'Hydrogen Society'

[Asia Economy Reporter Kim Ji-hee] Hyundai Motor Company is accelerating its efforts to secure leadership in the upcoming hydrogen era. First, it is solidifying its dominance in the hydrogen mobility sector by leading with the hydrogen electric vehicle 'Nexo'.

According to industry sources on the 18th, Hyundai Motor has set a domestic sales target of 10,100 units for the hydrogen electric vehicle exclusive model 'Nexo' this year. In the second year since Nexo's launch, the goal is to achieve an annual sales record exceeding 10,000 units in a single country for the first time.

Hyundai Motor, which mass-produced and sold the world's first hydrogen electric vehicle 'Tucson ix' in 2013, released the hydrogen electric vehicle exclusive model 'Nexo' in March 2018. Domestic sales of Nexo were around 700 units in 2018, but jumped nearly sixfold to 4,194 units last year. Combining Tucson ix and Nexo sales up to last year, Hyundai Motor has sold a total of 5,128 hydrogen electric vehicles.

The government is also supporting the expansion of the hydrogen electric vehicle market. On the 9th, the 'Hydrogen Economy Promotion and Hydrogen Safety Management Act,' aimed at fostering the hydrogen industry, passed the National Assembly plenary session. This year, government subsidies have been confirmed with targets to supply 10,100 hydrogen electric passenger vehicles and 180 hydrogen buses.

Hyundai Motor's vision extends beyond mobility to hydrogen cities and a hydrogen society. Recently, Chung Eui-sun, Executive Vice Chairman of Hyundai Motor Group, expressed such expectations in an interview with the global CEO coalition in the hydrogen sector, the 'Hydrogen Council.' Serving as co-chairman of the Hydrogen Council, Executive Vice Chairman Chung emphasized, “A hydrogen ecosystem where hydrogen production, distribution, and utilization occur is the fastest way to a truly carbon-free society.”

Executive Vice Chairman Chung explained that hydrogen cities enable comprehensive demonstrations of energy transition and will help accelerate the establishment of a hydrogen society. He said, “Hydrogen cities being promoted by major countries will play an important role in advancing the future hydrogen society. Hydrogen cities are stepping stones toward a perfect hydrogen society and will also help showcase the vision and benefits of a hydrogen society to the public.”

He also mentioned activities Hyundai Motor Group is pursuing to realize a hydrogen society. Executive Vice Chairman Chung stated, “As a leading company in hydrogen mobility, Hyundai Motor Group is committed to developing and supplying hydrogen electric vehicles at reasonable prices to the general public with a strong sense of responsibility,” adding, “Rather than focusing solely on short-term sales targets, we will continuously strengthen technological leadership by reducing costs, miniaturizing fuel cell systems, and maximizing efficiency to lower barriers related to the spread of hydrogen electric vehicles.”