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Hyundai Breaks Ground on HTWO Hydrogen Fuel-Cell and Electrolyzer Plant in Ulsan

Planned 2027 completion positions the HTWO site to scale fuel cells plus PEM electrolyzers across Hyundai's hydrogen business.

Overview

  • Groundbreaking launches a 43,000 m² build on a repurposed transmission site with a 930 billion KRW investment and planned capacity of up to 30,000 fuel-cell units a year.
  • The facility will also produce high-efficiency PEM electrolyzers under the HTWO brand, with roughly 90% of electrolyzer components localized in Korea.
  • Hyundai reports a 1 MW containerized electrolyzer demo producing over 300 kg of high-purity hydrogen daily and a 5 MW project in Jeju under development.
  • The plant is designed as an advanced manufacturing platform using robotics and intelligent monitoring to improve operational efficiency and worker safety.
  • Output is intended for passenger cars, commercial trucks and buses, construction equipment and marine vessels, with a new supply agreement signed with bus maker KGM Commercial.