Hyundai to invest $7 billion into hydrogen engine production

Hyundai has revealed its fuel cell R&D roadmap. The company plans launch mass production of hydrogen-powered engines and reach the annual volume of 700,000 units produced by 2030.

The company plans to use around 500,000 of these in Hyundai/KIA passenger cars and light commercial vehicles.

The car giant says it expects the international demand for hydrogen-powered cars to rise to 2,000,000 by 2030. Looks like it wants at least a 25% share in that market.

Apart from producing cars, Hyundai also expects to sell its hydrogen fuel cells to manufacturers of trains, ships, loading equipment, drones and power cell-based systems.

Hyundai expects to invest around U.S. $7,000,000,000 in the project, which will involve building new factories and R&D centers and creating more than 50,000 new jobs.

Photo: motoring.com