South Korea will produce 6.2 million units of fuel cell electric vehicles and build 1,200 refilling stations across the country by 2040, in a major industrial push aimed at securing energy independence and taking the leadership in hydrogen technology.
In its roadmap announced Thursday, the government said it would diversify the hydrogen supply portfolio to increase the supply volume to 5.26 million tons in the next 20 years, and lower the market price of the energy to under 3,000 won per kilogram.
The Seoul government will also support the industrial and domestic use of fuel cells for electricity and develop ships, trains and construction machineries powered by hydrogen, the Ministry of Trade, Industry and Energy said in a statement.
The road map was announced at Ulsan city hall on Thursday, with President Moon Jae-in in attendance.
Ulsan is the nation’s southeastern industrial city that houses petrochemical and auto manufacturing complexes. The city is also home to South Korean auto giant Hyundai Motor. The carmaker takes the lead in the hydrogen car market with Nexo, which can go up to 609 kilometers per a single charge, the longest range in the world for a green car.
By Cho Chung-un (firstname.lastname@example.org)