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Hyundai Mobis to invest 1.32 trillion won in hydrogen fuel-cell plants in Incheon, Ulsan
Hyundai Mobis Co. will invest 1.32 trillion won in two local hydrogen fuel-cell plants in Incheon and Ulsan by 2025.
The projects are a hydrogen fuel-cell stack plant in Incheon and a hydrogen fuel-cell systems assembly plant in Ulsan.
The fuel-cell stack contains up to several hundred fuel cells and forms the heart of the fuel-cell power system.
South Korea's biggest auto parts maker aims to start producing fuel-cell stacks and systems at the plants in 2023, which supply it for Hyundai Motor's hydrogen-powered vehicles.
It eyes to complete the investment by 2025.
Hyundai Motor Group's key affiliates are Hyundai Mobis, Hyundai Motor Co., and Kia Corp.