Hyundai Motor Group Concentrating on Hydrogen Fuel Cell Vehicle Development

[nationalize the fed]

Global Fuel Cell Leader

29 January 2015 Jung Yeon-jin Business Korea

The Hyundai Motor Group is planning to rank second in the global eco-friendly car market by 2020. To this end, the company is focusing on hydrogen fuel cell vehicle R&D at the Gwangju Creative Economy Innovation Center. At the same time, it is going to raise 177.5 billion won (US$162.3 million) in funds with the government for startups in the auto industry and better business management at small and medium enterprises.

The funds include a so-called hydrogen fund of approximately 15 billion won (US$13.7 million), which will be spent on the hydrogen fuel cell industry. Industry-academic idea collection, expert consulting, and mentoring are scheduled, and stations are set up for LPG and CNG-based hydrogen and electric power generation, sale, and storage.

Joint research activities and programs will be underway as well to replace imported hydrogen vehicle parts with domestically-developed ones. Specifically, these will cover the development of separation membranes, base materials, storage, and transfer techniques for fuel cells and external power transmission technology, and so on.

According to the Nikkei BP Cleantech Institute, the global fuel cell market is estimated to reach 400 trillion won (US$366 billion) in 2030. The hydrogen fuel cell industry of Korea is expected to exceed 107 trillion won (US$97.9 billion) by 2040, and they expect to create about 175,000 jobs and produce 23.5 trillion won (US$21.5 billion) of goods...
MORE: http://www.businesskorea.co.kr/article/8810/global-fuel-cell-leader-hyundai-motor-group-concentrating-hydrogen-fuel-cell-vehicle

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Hyundai opens largest R&D center in Gwangju


Hyundai Motor Group Chung Mong-koo takes President Park Geun-hye on a tour of the Gwangju Creative Economy Innovation Center in northern Gwangju, South Jeolla, on Tuesday morning. The Gwangju center opened Tuesday inside the Gwangju Institute of Science and Technology campus. [Joint Press Corps]


...The Gwangju center will mainly focus on enhancing the regional economy in Gwangju and South Jeolla by researching eco-friendly automotive technologies such as hydrogen fuel-cell vehicles and hybrid cars...
http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=3000217

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The US can watch, since all it can do anymore is bomb and invade and plan war
#Claptrap