"Accelerating the Hydrogen Society"... Hyundai Motor Completes Acquisition of Mobis Hydrogen Fuel Cell Business

Hyundai Motor Company announced on the 9th that it has finalized the acquisition of the domestic hydrogen fuel cell business from Hyundai Mobis.

In February, Hyundai Motor and Hyundai Mobis signed a transfer agreement to integrate the existing hydrogen fuel cell business, which had been divided between R&D and production.

With the acquisition process completed last month, Hyundai Motor has consolidated Hyundai Mobis’s hydrogen fuel cell business facilities, assets, as well as R&D and production quality personnel, gathering technology and resources in one place to accelerate technological innovation and product development. Through this acquisition, Hyundai Motor established the 'Hydrogen Fuel Cell Process Quality Office' within the R&D Headquarters’ Hydrogen Fuel Cell Development Center and organized teams responsible for manufacturing technology and mass production quality.

Hyundai Motor Company President Jang Jae-hoon (center in the photo) is presenting on hydrogen solutions at the 2024 CES held last January at the Mandalay Bay Convention Center in Las Vegas, USA.
[Photo by Hyundai Motor Company]

Hyundai Motor plans to leverage the integrated hydrogen organization to secure technological competitiveness in hydrogen fuel cells and improve production quality. In addition to hydrogen electric vehicles, it will expand sales of hydrogen fuel cells applicable to various other applications. The company also aims to reduce infrastructure and operating costs and enhance operational efficiency through a unified management system to supply products at competitive prices.

To lead the hydrogen electric vehicle market, Hyundai Motor will launch the successor model to the NEXO by 2025. At the same time, it will continue efforts to diversify its business in non-vehicle sectors such as power generation, trams, ports, ships, and Advanced Air Mobility (AAM).

Jang Jae-hoon, President of Hyundai Motor, stated, "We are committed to the hydrogen business with a strong sense of mission," adding, "We will strengthen the group-wide collaboration system to secure leadership in the hydrogen ecosystem and continue to expand the hydrogen business foundation by promoting resource-circulating hydrogen production, technology development, and the expansion of commercial vehicles."