Seven Out of Ten Hydrogen Vehicles Sold Globally in the First Half Were Hyundai Models

13% Growth Compared to the First Half of Last Year

Hyundai Accounts for 3,337 of 4,643 Units Sold

Market Share Surges as Japan and China Falter

Hydrogen Vehicle Market Expected to Grow to 350 Trillion Won

In the first half of this year, seven out of ten hydrogen fuel cell vehicles (FCEVs) sold worldwide were Hyundai Motor Company vehicles. While major competitors from countries such as Japan and China saw their sales figures decline, Hyundai Motor Company increased its sales, solidifying its leadership in the hydrogen vehicle market.

According to energy market research firm SNE Research on August 6, global hydrogen vehicle sales from January to June 2026 reached 4,643 units, a 13% increase compared to the same period last year (4,110 units).

By company, Hyundai Motor Company sold 3,337 units, with its performance led by the second-generation Nexo launched in 2025. This figure represents a 161.9% year-on-year increase. As a result, Hyundai Motor Company’s global hydrogen vehicle market share surged significantly from 31% to 71.9%.

Toyota sold only 306 units in the same period, marking a 56.7% decrease in sales and a sharp drop in market share from 17.2% to 6.6%.

Chinese commercial vehicle companies sold 921 units, which is a 54.4% decrease compared to 2,018 units sold in the first half of the previous year. Their market share also declined from 49.1% to 19.8%. The sales cliff in the first half was attributed to pre-shipment ahead of the conclusion of the pilot city program in late 2025, as well as a lag in the rollout of subsequent policies.

The All-New Nexo. Hyundai Motor Company

Hyundai Motor Company is also proactively expanding the hydrogen ecosystem. In Saemangeum, it is investing 1.4 trillion won to build a water electrolysis plant that produces hydrogen and oxygen from electric energy, and plans to construct an artificial intelligence (AI) hydrogen city. In Ulsan, the company is investing 930 billion won to build a hydrogen fuel cell production plant, which is scheduled for completion next year. This facility will have the capacity to produce 30,000 next-generation fuel cell systems and water electrolysis equipment annually. In addition to building out domestic hydrogen infrastructure, Hyundai Motor Company is continuing hydrogen investments in overseas markets, including Brazil, Guangzhou in China, and Hong Kong.

Although commercialization of hydrogen energy faces challenges due to high operating costs and insufficient infrastructure, Hyundai Motor Company’s strategy is to secure a long-term market advantage through continued investment.

In fact, the hydrogen vehicle market is expected to grow in the coming years. According to a report by market research firm Fortune Business Insights, the global hydrogen vehicle market is projected to reach approximately $16.99 billion (about 24.2 trillion won) in 2025 and grow to about $245.81 billion (about 350 trillion won) by 2034.

SNE Research emphasized, “The direction of the market in the second half of the year depends on sustained sales of the new Nexo, how quickly China executes its new pilot programs, and improvements in hydrogen prices and charging station utilization rates.” The firm added, “Rather than becoming mainstream in passenger cars, hydrogen vehicles are likely to grow as a complement to battery electric vehicles, particularly in long-haul, heavy-duty, high-utilization transport sectors.”

This content was produced with the assistance of AI translation services.