As Hyundai Motor Group, the second largest in the business world, and POSCO Group, the sixth largest in the business world, cooperate in hydrogen business, it is expected that the domestic related ecosystem will grow rapidly.
The addition of the basic sales of the two companies related to hydrogen in 2050 is expected to exceed the estimate of the size of the domestic hydrogen economy market by the Hydrogen Committee, a global CEO consultative for hydrogen. It is analyzed that it contributes to the overall growth of the domestic hydrogen industry, including suppliers, and its impact is even greater.
◆Conservatively held sales of Hyundai Motor’s hydrogen electric vehicle by 2030
According to the industry on the 16th, the hydrogen-related sales of the Hyundai Motor Group and POSCO Group, which formalized the hydrogen business cooperation on the day, will easily exceed 70 trillion won in 2050.
This is the result of conservatively adding up the future goals of both companies. In practice, it means that more than that can be achieved. The Hydrogen Committee estimates that the scale of Korea’s hydrogen economy in 2050 is around 70 trillion won.
In fact, Hyundai Motor, which is driving the domestic hydrogen economy, is producing 500,000 hydrogen electric vehicles even if it meets the target of 2030. Even if the average price of a hydrogen electric vehicle is set at 50 million won, sales of 25 trillion won are generated. In the case of Hyundai Motor’s representative hydrogen electric vehicle’Nexo’, the price per unit exceeds 70 million won.
In addition to the Nexo, Hyundai Motor Company plans to increase production of hydrogen electric buses and hydrogen electric trucks worth hundreds of millions of dollars per unit. It aims to sell a total of 65,000 hydrogen electric trucks to the US, Europe and China markets by 2030.
In addition, if additional sales such as hydrogen fuel cell systems and sales of affiliates including Hyundai Mobis are added and growth values are added by 2050, Hyundai Motor Group’s annual hydrogen-related sales are expected to increase astronomically.
The POSCO Group also declared in December last year that it will achieve 30 trillion won in sales by 2050 in the hydrogen business. Under the vision of’a leading green hydrogen company leading the hydrogen economy’, it is through the establishment of a 5 million ton hydrogen production system by 2050. This is the background of the analysis that the sales of Hyundai Motor Group and POSCO Group alone could exceed the estimate of the domestic hydrogen economy market size in 2050 by the Hydrogen Committee.
Hyundai Motor’s representative hydrogen electric vehicle’Nexo’ [사진=현대자동차 제공]
◆Synergy with the 2nd and 6th largest hydrogen business in the business world…
In the industry, as Hyundai Motor Group and POSCO Group have joined hands, the realization of each company’s goals will not be difficult unless there are major changes.
The Hyundai Motor Group plans to achieve the target early through investment expansion. To this end, about 15 trillion won will be invested in full-scale promotion of the hydrogen business and expansion of the electrification lineup for five years from this year to 2025.
It will strengthen the capabilities of not only hydrogen electric vehicles but also surrounding businesses. The hydrogen fuel cell division is a prime example. The Hyundai Motor Group will start operating the hydrogen fuel cell brand’HTWO’ in earnest from this year. Hyundai Motor Group plans to sell 700,000 hydrogen fuel cells by 2030 based on HTWO.
POSCO Group will also step up as one of the pillars of the domestic hydrogen economy through the vision of a leading green hydrogen company leading the hydrogen economy. Currently, POSCO has an annual production capacity of 7000 tons of hydrogen using by-product gas and liquefied natural gas (LNG) generated in the steel manufacturing process.
In addition, about 3500 tons of by-product hydrogen is extracted and used to control temperature and prevent oxidation during steel production. It is also equipped with the capabilities necessary for hydrogen production and use, such as developing the world’s first steel product for hydrogen fuel cell separators and supplying it to domestic mass-produced hydrogen vehicles.
In the future, POSCO will also focus on research on the’hydrogen reduction steelmaking method’, which is a steel production technology using hydrogen, and various development capabilities necessary to’produce, transport, store, and utilize’ hydrogen. In addition, large-scale investments are also promoted through green hydrogen distribution, infrastructure construction, and project participation.
An industry official said, “Hyundai Motor Group and POSCO Group’s cooperation in the hydrogen sector will greatly help the rapid growth of the related ecosystem, which is still in its infancy.” There will be.”
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