Hyundai Motor Group said on the 28th that its first overseas Hydrogen Fuel Cell system production hub, "HTWO Guangzhou," has been selected as a "leading corporation in the industrial chain" for Guangzhou's strategic industries. Hyundai Motor Group was the only foreign corporation among the 96 corporations that applied.
According to Hyundai Motor Group, the Guangzhou Municipal Bureau of Industry and Information Technology in Guangdong province recently selected "HTWO Guangzhou" as a leading corporation in the industrial chain in the hydrogen energy sector under the "first batch of leading corporations and promotion agencies for Guangzhou's strategic industrial clusters." A leading corporation in the industrial chain refers to a core corporation granted qualification for spearheading the strengthening of industrial supply chains and the fostering of industrial ecosystems. Guangzhou is pushing policies to nurture core corporations centered on 14 strategic industries, including new energy, smart connected cars, artificial intelligence (AI), semiconductors, and aerospace.
Hyundai Motor Group's HTWO Guangzhou will take part across Guangzhou's hydrogen industry policies in China, including building a hydrogen supply chain, cooperating on core technologies, and expanding global exchanges. It will also receive various support such as special policy assistance from the Chinese government, research and development (R&D), and industry-academia-research collaboration. A Hyundai Motor Group official said, "Our hydrogen technology capabilities, pursued for the global energy transition and carbon neutrality, have been officially recognized."
The Chinese government has recently been expanding its hydrogen business. It plans to build a complete hydrogen industry technology innovation system by 2030, create diverse hydrogen utilization ecosystems by 2035, and ultimately achieve carbon neutrality by 2060. To that end, in 2022 it announced the "medium- to long-term plan for the development of the hydrogen energy industry" and designated hydrogen as a core sector of the national energy system.
Guangdong province and Guangzhou city are also pushing to expand the adoption of hydrogen electric vehicles and charging infrastructure. Guangdong was designated a national hydrogen economy pilot city in 2021, and last year it distributed more than 7,000 hydrogen electric vehicles, ranking No. 1 among pilot cities. Guangzhou likewise operates more than 4,300 vehicles, making it China's largest city for hydrogen electric vehicle operations.
HTWO Guangzhou competes with 60 local and foreign fuel cell system corporations in China. Last year it sold more than 900 hydrogen electric commercial vehicles, ranking No. 3 in China and No. 1 among foreign corporations. Choi Du-ha, general manager of HTWO Guangzhou, said, "We will expand participation in the comprehensive hydrogen energy application pilot project scheduled for the second half of this year and strengthen local cooperation."