Hyundai Motor Group has created a dedicated Energy Hydrogen Business Division to advance its ambitions in the hydrogen industry beyond fuel cell vehicles.
The new unit will operate under the company’s Planning and Coordination Office and coordinate hydrogen-related activities across all Hyundai subsidiaries, focusing on production, storage and transportation of hydrogen energy.
Ken Ramirez, who joined Hyundai in 2021 from PSA Group, will lead the division. The appointment signals Hyundai’s intent to expand its HTWO hydrogen fuel cell system brand with customized solutions across the hydrogen value chain.
Vice Chairman Chang Jae-hoon, who serves as co-chair of the Hydrogen Council, said the company will “accelerate the realization of a hydrogen society where clean hydrogen is used as energy for everything and everyone, everywhere.”
The restructuring separates Hyundai’s hydrogen vehicle development from its broader energy business as the global hydrogen market is projected to reach $2.8 trillion (approximately 409 trillion won) by 2032.
Hyundai plans to collaborate with competitors including Toyota and General Motors to build a comprehensive hydrogen business ecosystem while increasing its own investments in hydrogen vehicle production.
The automaker will launch the “Inisium,” successor to its Nexo hydrogen vehicle, later this year. The new division will oversee more than 20 hydrogen-related organizations across Hyundai subsidiaries, giving it significant influence within the conglomerate’s structure.
