Global auto giants bet on opportunities of China's hydrogen industry
Photo taken on Nov. 7, 2021 shows a Hyundai hydrogen-powered unmanned transport vehicle displayed at the Automobile Exhibition Area of the 4th China International Import Expo (CIIE) in east China's Shanghai. (Xinhua/Hou Dongtao)
Eyeing the expanding market and significant future potential of China's hydrogen industry, auto giants across the globe are starting to accelerate their business layout in China's hydrogen sector, reported Economic Information Daily on Friday.
As one of the first automakers to develop hydrogen fuel cell vehicles, Hyundai Motor Group has started the construction of its first overseas fuel cell system facility in Guangzhou, south China's Guangdong Province in March 2021. Named HTWO Guangzhou, construction of the plant is expected to be complete by end of 2022. With combined functions of manufacturing, R&D and innovation, the new plant is planned to initially produce 6,500 fuel cell systems annually and gradually increase its capacity in line with market demand.
As the world's largest hydrogen producer, China has accumulated outstanding experience in the pure electric vehicles sector and is possible to lead the future transformation toward hydrogen power, according to Lee Hyuk Joon, president of Hyundai Motor Group (China) Ltd.
In addition to Hyundai, other major automakers including Mercedes-Benz, BMW, Toyota Motor and Honda Motor are seeking breakthroughs in the hydrogen fuel cell vehicle sector as well.
Auto parts and fuel cell suppliers such as Bosch, Continental AG and Faurecia, as well as core materials producers such as DuPont, W. L. Gore & Associates and Johnson Matthey are also increasing their input in China's fuel cell vehicle market.
At the same time, Toyota is striving to promote cost reduction of hydrogen fuel cell system. Chinese automakers including SAIC Motor Co., Ltd., BAIC Group, Guangzhou Automobile Company and Changan Auto are looking to develop hydrogen fuel cell vehicle technologies as well.
