Why Hyundai is all in on hydrogen

For the Korean company, it’s much more than an alternative fuel—it represents a potentially life-changing global transformation

The Consumer Electronics Show (CES), the world’s most influential tech event, is no stranger to market-shaping news, but this year, all eyes were on Jay Chang, president and CEO of Hyundai. There, Chang announced that Hyundai Motor Group (HMG), a conglomerate renowned for its popular automotive brands and a first mover in the hydrogen industry, will accelerate hydrogen demand by off-taking approximately 3 million tons annually by 2035 through its businesses spanning the entire value chain, becoming both a hydrogen provider as well as its largest consumer. While the fuel cell technology has been in development for decades (Hyundai was the first to mass produce hydrogen-powered Class 8 heavy-duty trucks and has sold the most of its Fuel Cell SUVs to date), the application and development of clean hydrogen is now resonating with increased urgency around the world, due to global commitments for carbon neutrality.