Hyundai HTWO Guangzhou named China hydrogen leader
Hyundai Motor Group said its hydrogen fuel cell production unit in China, HTWO Guangzhou, has been designated a “leading industrial chain enterprise” in the hydrogen energy sector by the Guangzhou municipal government, strengthening the company’s position in the world’s largest clean-energy market.
According to the South Korean automaker on Thursday, the designation is granted to companies that play a key role in strengthening supply chains and fostering industrial ecosystems in strategic sectors.
HTWO Guangzhou, Hyundai Motor Group’s first overseas hydrogen fuel cell system production base, was selected in recognition of its technological competitiveness and contributions to building a local hydrogen ecosystem in China.
Among the 96 companies chosen this year, HTWO Guangzhou was the only foreign-invested enterprise to make the list.
The designation is expected to give the company a larger role in developing China’s hydrogen supply chain and advancing cooperation on core technologies. The Guangzhou city government will also provide policy support and incentives, while allowing the company to participate directly or indirectly in discussions on industrial policy and major national projects.
China has been accelerating investment in hydrogen energy under its “dual carbon” strategy, which aims to peak carbon emissions by 2030 and achieve carbon neutrality by 2060.
Guangzhou has emerged as China’s largest operating city for hydrogen-powered commercial vehicles and one of the country’s leading hydrogen industry hubs.
HTWO Guangzhou sold more than 900 hydrogen commercial electric vehicles last year in China’s highly competitive hydrogen fuel cell market, where more than 60 companies are active. The company ranked third overall in China and first among foreign players in terms of sales.
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Hyundai HTWO Guangzhou named China hydrogen leader, source