Hyundai Motor Group and its suppliers plan to spend of 7.6 trillion won (US$6.7 billion) through 2030 to raise production of fuel cells by more than 200-fold as the South Korean automaker targets to become a key player in the new-energy vehicle technology.
The world’s fifth-largest auto group — with Hyundai Motor Co. and Kia Motors Corp. under its umbrella — said Tuesday it will boost annual production capacity of fuel-cell systems to 700,000 units from 3,000 now and create 51,000 jobs over the next 12 years.
