Hyundai Motor Group has announced its plans to popularize hydrogen fuel cells in automobiles by 2040.
Hyundai plans to see the electrification of all new commercial vehicle models — including fuel cell electric and battery electric powertrains — by 2028.
The company plans to introduce new hydrogen fuel cell systems, in 100 kW and 200 kW variations, by 2023 with costs being lowered by more than 50%, total package volume reduced by 30% and power output doubled.
Hyundai claims it will be the first automaker to apply fuel cell systems to all commercial vehicle models by 2028. It plans to achieve a fuel cell electric vehicle price point comparable to battery electric by 2030.
Additionally, it will focus on fuel cell systems for other aspects of society including homes, buildings and powerplants as energy solutions.
Future vehicles will feature car concepts with fuel cell technologies including a trailer drone, high performance sports car and a fuel cell vehicle for emergency relief and rescue missions that will have an attached drone for surveying and identifying trapped or lost individuals.
Hydrogen energy will account for 18% of global energy demand by 2050, with market size of $2.5 trillion, according to the Hydrogen Council, a consortium made up of energy, transportation and investment companies. Hydrogen energy will also aim to cut CO2 emissions by more than six billion tons a year and help to meet emissions regulations that are coming as part of the effort to combat global warming.