Hyundai builds full cell system plant in Guangzhou
Source: Xinhua | 2021-03-06
Hyundai Motor Group has started the construction of its first overseas fuel cell system facility in the southern Chinese city of Guangzhou, the company said on Thursday.
The new plant is expected to initially produce 6,500 fuel cell systems annually and gradually increase its capacity in line with market demand, with the total investment estimated to reach 8.5 billion yuan (about 1.31 billion U.S. dollars) by the end of 2030.
The company held a virtual groundbreaking ceremony on Tuesday for the plant, named HTWO Guangzhou. It aims to complete construction in the second half of 2022.
Facilities, including a fuel cell system plant and an innovation center, will be built on the 207,000-square-meter site, according to the company.