Hyundai Motor Group Breaks Ground on Landmark KRW 930 Billion Hydrogen Fuel Cell Plant in Ulsan
Hyundai Motor Company has officially broken ground on its state-of-the-art hydrogen fuel cell production facility in Ulsan, marking a bold step forward in the company’s vision for a clean energy future and sustainable mobility.
The groundbreaking ceremony was led by Jaehoon Chang, Vice Chair of Hyundai Motor Group, and attended by prominent government officials including Minister Sungwhan Kim of the Ministry of Climate, Energy and Environment, Vice Minister Shinhak Moon of the Ministry of Trade, Industry and Resources, and Ulsan Mayor Doo-gyeom Kim. Their presence underscored the strategic importance of hydrogen technology as a pillar of South Korea’s industrial transformation. Also in attendance was Ivana Jemelkova, CEO of the Hydrogen Council, representing the global leadership community driving the hydrogen economy.
Built on a 43,000-square-meter site previously home to an internal combustion engine transmission plant, the facility symbolizes Hyundai’s transition from traditional manufacturing to a next-generation hydrogen economy. With an investment of KRW 930 billion (approx. USD 700 million), the project is scheduled for completion in 2027 and will boast an annual production capacity of 30,000 fuel cell systems under Hyundai’s HTWO brand.
The Ulsan Hydrogen Fuel Cell Plant will produce advanced hydrogen fuel cells and electrolysers designed for a wide range of applications — from passenger vehicles and commercial fleets to construction equipment and marine power systems — further accelerating Hyundai’s ambition to lead the global hydrogen value chain.
“This facility represents Hyundai Motor Group’s unwavering commitment to advancing the hydrogen society,” said Vice Chair Jaehoon Chang. “It will become a cornerstone of Korea’s economic growth, reinforcing our nation’s leadership in the global hydrogen industry and powering the transition to clean, sustainable energy.”
By transforming a legacy engine plant into a cutting-edge hydrogen manufacturing hub, Hyundai is setting a powerful example of industrial innovation and sustainability. The project strengthens South Korea’s position as a world leader in hydrogen mobility, while driving investment, job creation, and environmental progress in the Ulsan region.
