Hyundai Motor announced on the 9th (Sunday) that it has finally completed the

Hyundai Motor announced on the 9th (Sunday) that it has finally completed the acquisition of the domestic hydrogen fuel cell business from Hyundai Mobis.

In February, Hyundai Motor and Hyundai Mobis signed a transfer contract to integrate the existing hydrogen fuel cell business, which was divided into R&D and production.

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How much will be left standing.

The latest news is that Hyundai Motor has acquired Hyundai Mobis’ hydrogen fuel cell business. In 2021, Hyundai Mobis announced that it would invest 1.3 trillion won to create new hydrogen fuel cell production bases in Incheon and Ulsan. While building a production base, we also built residential facilities for employees.

When Hyundai Motor designs hydrogen fuel cells, Mobis produces designed fuel cells. The problem is that the hydrogen fuel cell design project was delayed indefinitely due to a setback in the middle, and in fact, it is about to be redesigned. Hyundai Mobis, which was preparing for production in time for completion of the design, also stopped.

In the end, Hyundai Motor Company took over Mobis’ production facilities. I don’t know who is advantageous between Hyundai Motor and Hyundai Mobis, but it seems that Mobis has eased its burden.

What do you think it would have been frustrating? Because Hyundai Motor did not design it properly, Mobis put a burden on it, and eventually, Hyundai Motor took over the production facilities. Not only Mobis but also numerous suppliers made investments and prepared to produce based on the completion of Hyundai Motor’s design, but I don’t think Hyundai Motor would have compensated for it.

In fact, regarding the Hyundai Mobis Cheongna plant project, SK Incheon General Chemical decided to make liquefied hydrogen and supply it to Hyundai Mobis Cheongna through pipe. This is Nagari. Plug Power is also building something there, this is Nagari.

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Not long ago, I did some coverage of secondary battery suppliers. Electric cars are not selling well. But they are selling better than I thought. Domestic demand and Europe are bad, but the U.S. sells a little bit. But secondary batteries are very bad. Until last year, automakers set high targets for electric vehicle production and prepared battery companies, but as they sold less than expected, they accumulated a lot of inventory. What’s not bad about electric vehicle sales right now is that we’re selling made-up cars. New battery products need to be produced, but new electric vehicles have significantly reduced production.

It’s a little difficult to analyze the books of secondary battery companies. Since the price of raw materials is set as an evaluation hand, the performance comes out very badly when the price of raw materials goes down. Actual sales or profits are linked to raw material prices, so it’s not that bad. To see indirectly how much production is being made, it is worth referring to subsidies paid according to production in the United States. In the case of SKON, there was a story that it had a hard time catching the yield, but it was raised to more than 90%. Compared to that, AMPC in the first quarter decreased by 200 billion won.

The cell company is this big, so the material companies are having a hard time expanding it bigger than that and not buying it. Companies that expanded too aggressively are pushing it to the level of chicken games.

Watching Elon Musk postpone his plan to launch a new car as a habit, I’m sure he’s disappointed as a stockholder. I wonder how much regret will be left for the suppliers who have prepared for production at that time.