Hyundai Mobis Will Build Two New Fuel Cell Plants in South Korea
Sep 17, 2021
According to foreign media. Hyundai Mobis, the South Korean car parts maker, is investing about Won1.3tn ($1.1bn) to build two new fuel cell plants in the country. The investment is designed to prepare for the rapid growth of the global fuel cell market. The global fuel cell market is expected to reach $28.9 billion by 2028.
The plant in Incheon will produce fuel cell stacks, while the plant in Ulsan will produce finished fuel cell products. Construction of the two plants is expected to start by the end of 2021 and be completed by the end of 2023.
CBIES AUTOMOTIVE produces steel tubes for side door impact beam, cross car beam, seat frame, shock absorber, exhaust system, trunk hinge, etc.
