Hyundai Motor Co. is in talks with a Chinese firm to form a joint company for the construction of its first overseas hydrogen fuel cell systems plant in Guangzhou this year as it seeks to enter the Chinese hydrogen market.
South Korea's biggest carmakers recently obtained government approval for the investment plan.
Hyundai is expected to announce the plant as early as this month.
Hydrogen technologies are regarded as one of South Korea's core technologies.
South Korea's Ministry of Trade, Industry, and Energy, which approved the plan, expects the hydrogen fuel cell systems plant to pave the way for Hyundai Motor to increase its exports to China.
Hyundai recently launched a fuel cell system brand, dubbed HTWO, which stands for the hydrogen molecule H2. The company aims to sell 700,000 hydrogen fuel cells in global markets in 2030.


Asian Currencies Stay Under Pressure as Dollar Holds Near 13-Month High Ahead of U.S. Jobs Report
Asian Stocks Rebound as Tech Shares Rally on Fed Rate Cut Hopes and Easing Iran Tensions
Sodexo Raises 2026 Revenue Outlook After Strong Q3 Sales Beat
Japan Signals Surprise Yen Intervention Strategy as BOJ Hawkish Stance Puts FX Traders on Alert
Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain
Tesla Q2 Deliveries Lift Chinese Auto Suppliers as EV Demand Improves
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows
ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says
Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan
DOJ Seeks Dismissal of Fraud Charges Against Gautam Adani in U.S. Court
New Zealand Consumer Confidence Rises in June as Inflation Expectations Ease
US Jobs Report Preview: June Payroll Growth Seen Slowing as Fed Rate Decision Looms
Oil Prices Steady as U.S.-Iran Talks Ease Supply Fears Ahead of Holiday Weekend
Trump Reports $1.4 Billion in Crypto Income as Digital Assets Become Top Wealth Source
Goldman Sachs Flags 3 Key Risks Ahead of Europe’s Earnings Season
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report
Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan 



