Hyundai to acquire hydrogen business in new move to bolster its H2 car deployment

Hyundai Motor Company will acquire Hyundai Mobis’ hydrogen fuel cell business.

According to a recent Hyundai Motor Company regulatory filing, in a strategic move, the company will acquire the hydrogen business unit from its automotive part-making affiliate Hyundai Mobis for 217.8 billion won ($163 million).

Hyundai is zeroing in on a sustainable future.

Reportedly, the recent acquisition of the hydrogen business unit is part of Hyundai’s goal to focus on green hydrogen technologies. This will help to boost its hydrogen cars business as well as its hydrogen business portfolio outside of standard passenger vehicles, including ships, trams, advanced air mobility and power generation.

The move can help the company realize its decarbonization plans by reshaping the energy landscape and creating a sustainable energy ecosystem.

Integrating Hyundai Mobis’ hydrogen business into its operations.

Through the integration of the hydrogen fuel cell business unit into its operations, Hyundai Motor plans to streamline research and development, improve the quality of production and increase sales across various applications. The objective is to establish an integrated portfolio that includes all levels of the hydrogen value chain from R&D to hydrogen production, storage, transportation, and use.

The acquisition agreement has been signed and approved.

With the signing of the agreement, Hyundai Mobis’ hydrogen business unit will be taken over by Hyundai Motor. This includes domestic facilities, assets and personnel in the fuel cell unit. The agreement has already been signed and approved by the companies’ board of directors, with the acquisition officially being completed in May.

Hyundai’s main hydrogen business goal – ramp up H2 vehicle deployment.

While it does want to expand its hydrogen business portfolio to other types of vehicles, power generation and beyond, according to Hyundai, the ultimate goal of its hydrogen business focus is to accelerate the deployment of hydrogen vehicles by enhancing fuel cell performance and durability.

Speeding up its deployment of fuel cell vehicles is important, as Hyundai’s NEXO hydrogen SUV is quickly losing ground on the market, with sales plunging in 2023 (a mere 4,709 were sold compared to 2022’s 11,179 sold). The company has also struggled to launch its upgraded NEXO model, having had to push back the vehicle’s release to 2025 from its originally planned launch in 2023.

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Page 1 of 7

Who discovered the hydrogen element in 1766?

Henry Cavendish Robert Boyle Christian Friedrich Schonbein

Page 2 of 7

What country uses the most hydrogen energy?

united states hydrogen use United States China hydrogen use China Germany hydrogen use Germany

Page 3 of 7

What's the Guinnes World Record for a hydrogen fuel car's mileage range on a single tank of hydrogen?

629 miles 489 miles 845 miles

Page 4 of 7

How many miles of hydrogen pipelines are currently operating in the United States?

300 miles 1600 miles 2800 miles Zero Hydrogen Pipelines

Page 5 of 7

Is a fuel cell car considered to be an electric vehicle?

Yes No

Page 6 of 7

What are the many ways to store hydrogen?

Liquified Salt Caverns Compressed Material based like ammonia All of the above

Page 7 of 7

Which of the following statements best describes why hydrogen is considered non-toxic and dissipates quickly?

Hydrogen is heavier than air, causing it to spread slowly and remain concentrated. Hydrogen is lighter than air, allowing it to rise and disperse rapidly in the atmosphere. Hydrogen is chemically inert, preventing it from reacting with other substances in the air. Hydrogen is soluble in water, making it easy to dissolve and remove from the environment.