The Ministry of Trade, Industry and Energy announced that Trade, Industry and Energy Minister Sung Yunmo attended the groundbreaking ceremony for a new fuel cell stack plant at the Hyundai Mobis factory in Chungju on December 11.
Fuel cell stacks are key components that make up more than half of the cost to build a hydrogen vehicle. Hyundai Mobis’ current fuel cell stack plant can produce about 3,000 stacks per year. With the new plant, the annual production volume is expected to increase to 40,000 units by 2022. This effort will contribute to reducing costs of hydrogen vehicles and help the country become one of the world’s leaders in fuel cells.
During his congratulatory speech at the ceremony, Minister Sung said that the government will actively support the industry to continue its growth momentum with an aim of putting 4,000 hydrogen vehicles on the road next year and installing 310 fuel cell stations across the country by 2022. The Korean government will also promote research and development activities for hydrogen vehicles and hydrogen charging systems.
The event was attended by several government officials and automaker executives, including North Chungcheong Province Governor Lee Si-jong, Chungju City Mayor Cho Gil-hyung, and Hyundai Motor Group Vice Chairman Chung Eui-sun.