Hyundai Motor Group Presents Its Vision to Popularize Hydrogen by 2040 at Hydrogen Wave Forum

Rhea-AI Summary

Hyundai Motor Group aims to popularize hydrogen by 2040 through its Hydrogen Vision 2040. The Group plans to introduce next-generation fuel cell systems, reducing costs by over 50% and doubling power output. By 2028, all commercial vehicle models will utilize fuel cell systems, marking Hyundai as the first automaker to achieve this. The goal is to align fuel cell electric vehicle prices with battery electric vehicles by 2030. The Group envisions applying hydrogen solutions across various industries, driving towards a sustainable hydrogen society.

Positive

• Introduction of next-generation fuel cell systems in 2023, reducing costs by over 50%.
• Plans to apply fuel cell systems to all commercial vehicle models by 2028.
• Targeting fuel cell electric vehicle prices comparable to battery electric vehicles by 2030.
• Aiming for widespread hydrogen application across all sectors.

Negative

• None.

• Hyundai Motor Group (the Group) announces Hydrogen Vision 2040, to popularize hydrogen by 2040 for 'Everyone, Everything and Everywhere' at Hydrogen Wave
• Hydrogen Wave represents the Group's plans for a new 'wave' of hydrogen-based products and technologies toward a hydrogen society
• The Group to introduce next- generation fuel cell system – 100kW and 200kW variations – in 2023 with costs being lowered by more than 50%, total package volume reduced by 30% and power output doubled
• The Group to become the first automaker to apply fuel cell systems to all commercial vehicle models by 2028
• The Group to achieve a fuel cell electric vehicle (FCEV) price point comparable to a battery electric vehicle (BEV) by 2030
• The Group to apply fuel cell systems to all types of mobility and furthering the technology to all other aspects of society including homes, buildings and powerplants as energy solutions
• Future product concepts featuring fuel cell technologies also revealed, including Trailer Drone, high-performance sports car, and fuel cell equipped vehicles for emergency relief and rescue missions
• Chairman of the Group, Euisun Chung, outlines the journey ahead: "By developing advanced technologies and innovative systems – as well as encouraging close collaboration between public and private sectors across the globe – it is possible to make this sustainable vision a reality for all." 

SEOUL, South Korea, Sept. 7, 2021 /PRNewswire/ -- Hyundai Motor Group (the Group) has set out its vision for hydrogen energy and a global hydrogen society.

Experience the interactive Multichannel News Release here: https://www.prnasia.com/mnr/hyundai_202109.shtml

At the Hydrogen Wave global online forum held today, the Group presented its plans to popularize hydrogen by 2040 through the introduction of new technologies and mobility solutions in transportation and other industrial sectors.

Further underscoring its pioneering commitment to clean sustainable energy for all types of mobility, the Group unveiled unprecedented plans that will see the electrification of all new commercial vehicle models – featuring fuel cell electric or battery electric powertrains, as well as the application of fuel cell systems – to all models by 2028. The daring strategy will put the Group at the vanguard of the commercial vehicle sector, in the process helping to reshape the industry and realize a sustainable clean future.

Representing the Group's plans for a new 'wave' of hydrogen-based products and technologies that advances the journey toward a hydrogen society, the Hydrogen Wave activities kicked off today with an online presentation– led by Chairman of the Group, Euisun Chung, and other senior executives. The team outlined the Group's future hydrogen strategy for fuel cell systems and fuel cell-based solutions for mobility and other areas.

The Group's central target to fully apply its commercial vehicle lineup with fuel cells by 2028 will make it the first global automaker to realize such ambitions for commercial vehicle transportation and will further help facilitate the transition to true sustainable mobility.

"Hyundai Motor Group's vision is to apply hydrogen energy in all areas of life and industry such as our homes, work-places and factories. The goal is to make hydrogen readily used for everyone, everything, and everywhere," said Chairman Chung at the Hydrogen Wave online global forum. "We want to offer practical solutions for the sustainable development of humanity and with these breakthroughs, we aim to help foster a worldwide Hydrogen Society by 2040."

The online global forum will be followed by a physical 'HydroVILLE' exhibition, at which the newly introduced applications and concepts will be presented. Inspired by the potential for clean hydrogen, the HydroVILLE exhibition features various fuel cell concepts for future mobility and power generation.

Since the development of its first FCEV in 1998, the Group has been preparing for the future of hydrogen. In 2013, the Tucson FCEV (ix35 Fuel Cell) was introduced, opening the door to the mass production of FCEVs. Then, in 2018, the company launched the next-generation fuel cell SUV, NEXO, and the world's first heavy-duty fuel cell truck, XCIENT Fuel Cell, in 2020.

Now, the Group is backing hydrogen to play a significant role in building a sustainable future and reducing society's dependence on fossil fuels. After two decades at the forefront of fuel cell technology development, the Group will expand its fuel cell technologies for wider applications of its vehicles, including additional mobility solutions and various energy utilization.

According to the Hydrogen Council, a global CEO-led initiative of leading energy, transport, industry and investment companies, hydrogen energy will account for 18 percent of global energy demand by 2050, with a market size of USD 2.5 trillion. The popularization of hydrogen energy will also help cut CO2 emissions by more than six billion tons a year, while creating over 30 million new jobs.

For more information about Hydrogen Wave, please visit: globalpr.hyundai.com

The presentation video can also be watched at Hyundai Motor Group's YouTube Channel (YouTube Link).

View original content:https://www.prnewswire.com/news-releases/hyundai-motor-group-presents-its-vision-to-popularize-hydrogen-by-2040-at-hydrogen-wave-forum-301370005.html

SOURCE Hyundai Motor Group

FAQ

What is Hyundai Motor Group's Hydrogen Vision 2040 plan?

Hyundai Motor Group's Hydrogen Vision 2040 aims to popularize hydrogen for diverse applications, targeting a sustainable hydrogen society by 2040.

When will Hyundai introduce next-generation fuel cell systems?

Hyundai plans to introduce next-generation fuel cell systems in 2023, aiming to reduce costs significantly.

What are Hyundai's goals for commercial vehicles by 2028?

By 2028, Hyundai aims to equip all its commercial vehicle models with fuel cell systems.

How does Hyundai plan to align fuel cell electric vehicle prices with battery electric vehicles?

Hyundai targets to make fuel cell electric vehicle prices comparable to battery electric vehicles by 2030.

What is the significance of the Hydrogen Wave forum?

The Hydrogen Wave forum showcased Hyundai's comprehensive hydrogen strategy and commitment to sustainable energy.