Pact Signed for 700 Hydrogen- Buses in Incheon by 2024

South Korea’s Ministry of Environment, Ministry of Land, Infrastructure & Transport, Incheon City Government, Hyundai Motor and SK E&S have signed an agreement to replace buses in the Incheon region with hydrogen-powered fuel cell buses by 2024. The plan is to deploy 200 fuel cell buses in 2023, and push up the figure to 700 by 2024. The Environment Ministry will provide subsidies for purchasing fuel cell buses. The Transport Ministry will also grant subsidies, and work on improving regulations to facilitate fuel cell bus deployment. Hyundai Motor will supply the vehicles, and SK E&S will supply liquid hydrogen and set up hydrogen charging infrastructure in the region. There are currently six hydrogen stations in Incheon. The goal is to build eight more this year. SK Plug Hyverse, a 51:49 JV of SK E&S and Plug Power, has signed an agreement with the Transport Ministry, Incheon City Government, Incheon International Airport and Korea Gas Technology to invest KRW 13 billion by 2024 in building a hydrogen charging station at a bus garage at the airport. SK Plug Hyverse is establishing about 40 hydrogen charging stations in Korea.SK E&S is currently building a hydrogen plant in Incheon, with annual production capacity of 30,000 tonnes. The plant will begin operation by the end of 2023.

Pact Signed for 700 Hydrogen- Buses in Incheon by 2024

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