Hyundai Motor to Acquire Mobis Hydrogen Business... Full-Scale Hydrogen Ecosystem Establishment

Complete Value Chain from R&D to Production and Vehicle Application
President Jang Jae-hoon: "We Will Accelerate the Hydrogen Society"

Hyundai Motor Company will fully acquire the facilities, assets, and personnel related to Hyundai Mobis's hydrogen fuel cell business. The strategy is to establish an ecosystem capable of independently producing and supplying hydrogen fuel cells to lead the future hydrogen industry.

On the 16th, Hyundai Motor announced that it had signed a domestic hydrogen fuel cell business transfer agreement with Hyundai Mobis.

Accordingly, Hyundai Motor will acquire not only the facilities and assets related to Hyundai Mobis's hydrogen fuel cell business but also research and development (R&D) and production and quality personnel. The current structure, divided into R&D (Hyundai Motor) and production (Hyundai Mobis), will be unified to enable organic collaboration and create synergy effects.

Through this, Hyundai plans to secure technological competitiveness in hydrogen fuel cells, improve production quality to apply them to hydrogen electric vehicles, and expand sales of hydrogen fuel cells that can be used for various purposes, thereby rapidly building a hydrogen ecosystem. The goal is to firmly connect the value chain from R&D and production to vehicles.

The hydrogen fuel cell system is a core component that significantly affects the marketability of hydrogen electric vehicles, including vehicle price and fuel efficiency. With this acquisition, Hyundai aims to enhance the performance, durability, and production quality of hydrogen fuel cells to promote the wider adoption of hydrogen electric vehicles.

Plans to support this have already been prepared. Hyundai will release a successor model to the hydrogen vehicle Nexo by 2025 and continue efforts to diversify its business into non-vehicle sectors such as power generation, trams, ports, ships, and Advanced Air Mobility (AAM).

Furthermore, Hyundai Motor Group has devised a plan to horizontally connect the hydrogen business capabilities of each group company and contribute to creating large-scale hydrogen demand at the group level to accelerate the realization of a hydrogen society. To this end, the group aims to increase annual hydrogen consumption to approximately 3 million tons by 2035.

Jang Jae-hoon, President of Hyundai Motor, said, "By unifying the value chain from R&D to manufacturing of the fuel cell system, a core element of the hydrogen ecosystem, we will innovate 'hydrogen mobility' and accelerate the hydrogen society through this."