In order to meet the development needs of electric vehicles, Hyundai Steel's hydrogen fuel cell metal bipolar plate business has been on track. The metal bipolar plate factory under construction, with a total investment of 20 billion won, is located in Songjin No. 2 Industrial Park, Tangjin, South Chungcheong-do. The construction rate has reached 40%. Mass production will begin in April next year. The plant's metal bipolar plates are designed to produce 8,000 hydrogen electric vehicles annually.
The metal bipolar plate is the core material of the battery pack, the main accessory of the hydrogen electric vehicle. Its price accounts for 60% of the battery composition cost, so the development of economical bipolar plate materials has been ongoing. In order to achieve the mass production of metal bipolar plates, Hyundai Steel has been committed to the development of related technologies, and finally independently developed economical metal bipolar plates with excellent performance and realized commercial production. At present, the global hydrogen economy era has begun. In order to seize the leading role in the hydrogen electric vehicle market, competition in the industry is becoming increasingly fierce. Hyundai Motor Group has developed hydrogen electric vehicles with market influence through early research and development. In the long run, the demand for hydrogen bipolar metal plates is expected to continue to grow. As a professional manufacturer of automotive panels, Hyundai Steel has keenly captured the market opportunity. As early as September of this year, Hyundai Steel signed a supply agreement with the Hyundai Motor Group called "H2 Ener gy" to cooperate in the production of 1,000 hydrogen electric trucks. Hyundai Steel will lead the company's sustainable development through the development of environmentally friendly electric vehicle materials.