While electric vehicles (EVs) have successfully entered the mainstream, the electrification of large-scale vessels remains a formidable challenge. Unlike passenger cars, large commercial vessels must transport tens of thousands of tons over vast distances for weeks at a time without the possibility of mid-voyage recharging. This necessitates not only massive energy storage solutions but a fundamental redesign of the ship’s propulsion architecture.   To resolve such issues, the shipbuilding industry is exploring solutions that use electricity generated from clean energy sources such as hydrogen, natural gas, and ammonia to power propulsion motors. This approach significantly reduces greenhouse gas emissions while also minimizing vibration and noise.   Electrification has three phases: power generation, distribution and conversion, and propulsion.   Power Generation for Electric-Powered Ships: Energy Mix   HD Hyundai is expanding the development and application of its “energy mix power system,” which combines dual-fuel engines (DFGE) with ammonia-based solid oxide fuel cells (SOFC).   DFGE offers flexibility in responding to fluctuations in power demand. During vessel operations, propulsion loads can change rapidly, and onboard power requirements may surge depending on equipment usage. DFGE systems can respond quickly and efficiently to these variations.   SOFC systems, on the other hand, generate electricity through electrochemical reactions, directly converting the chemical energy of fuel into electricity without combustion. According to the U.S. Department of Energy, this process reduces energy loss and improves overall efficiency compared to conventional engine- or turbine-based systems.   Not only that, the SOFC systems also provide an environmentally friendly solution that enables greater flexibility in meeting tightening carbon regulations.     Power Distribution at Sea: Direct Current   A key technology for efficiently distributing and converting generated electricity is the medium-voltage direct current (MVDC) system, which transmits electricity at voltages ranging from 1.5 kV to 100 kV.   Since the "War of the Currents” between Edison and Tesla, the alternating current (AC) type has been the standard method for transmitting electricity, but the direct current type MVDC is becoming a gamechanger at the sea. This is because it can optimize power conversion efficiency compared to conventional AC systems, minimizing energy loss. MVDC has been known to improve integrated energy efficiency by up to 20% when applied to large electric-powered ships.   HD Hyundai is actively developing MVDC technology while collaborating with the American Bureau of Shipping (ABS) to establish design standards and international regulations. In May 2024, the company signed a memorandum of understanding (MOU) with ABS to advance MVDC development and classification standards.   Localization of Propulsion Technology Nears   The final stage of ship electrification is propulsion. The medium-voltage propulsion drive, based on a modular multilevel converter (MMC) structure, is a critical component that precisely controls motor torque and speed.   This system delivers high-quality voltage and precise control, making it particularly effective for vessels requiring low noise and vibration, such as naval ships conducting covert operations. It enables stable performance even under extreme conditions, including ultra-low-speed operation and rapid acceleration or deceleration, while significantly reducing detectability compared to conventional mechanical propulsion systems.   HD Hyundai has secured core technologies for propulsion drives, which were previously reliant on imports, thereby strengthening its technological independence. As a result, the company has become the first in the global shipbuilding industry to localize the entire electric propulsion platform—from power generation to distribution and propulsion. HD Hyundai plans to officially commercialize the propulsion drive in 2028.   The Era of Large Electric-Powered Ships   By securing technologies across the entire electrification value chain, HD Hyundai is positioning itself at the forefront of the transition to large electric-powered ships.   In 2025, HD Hyundai received Approval in Principle (AiP) from the ABS at Gastech for the concept design of a 16,000 TEU container ship equipped with an electric propulsion system. HD Hyundai is now accelerating R&D efforts with the goal of commercializing large electric-powered vessels by 2030.    

▶ Agreement with Hana Bank and Korea Credit Guarantee Fund (KODIT) to provide guarantee fee discounts and preferential interest rates ▶ "Helping partners prepare for the future is the true meaning of shared growth" HD Construction Equipment is launching a financial guarantee program worth KRW 85 billion to foster a stable business environment for its partner companies. The company announced on April 30 that it had signed a memorandum of understanding (MOU) with Hana Bank and the Korea Credit Guarantee Fund (KODIT) to support shared growth in the construction equipment industry. This agreement was made on the 29th at Hana Bank’s headquarters located in Jung-gu, Seoul. The ceremony was attended by key officials, including Lee Ho-seong, the President of Hana Bank; Chae Byeong-ho, the Executive Director of KODIT; Moon Jae-young, the CEO of HD Construction Equipment; and Kim Do-wan, the Chairman of the HD Construction Equipment Partner Company Council.  This agreement was established to provide practical assistance to partners facing difficulties in obtaining funding due to recent economic uncertainties. The level of support has significantly increased in response to the high demand for the existing "Mutual Growth Fund," which was quickly depleted. Under the agreement, HD Construction Equipment and Hana Bank will jointly establish a fund of up to KRW 5 billion. KODIT will use this fund to provide up to KRW 85 billion in loan guarantees for partner companies borrowing from financial institutions.  The guarantee program is divided into two tracks: a Joint Project Guarantee of KRW 40 billion for partners engaged in future innovation, such as new model development and production, and a Mutual Growth Financial Support Guarantee of KRW 45 billion for all partners. Both tracks offer discounted guarantee fees and preferential interest rates. "The true value of shared growth lies in helping our partners prepare for the future confidently, even amidst an uncertain external environment," stated CEO Moon Jae-young. "We hope this financial support will enhance the overall competitiveness of the construction equipment industry by fostering a culture of mutual growth with our partners."  

▶ Handover ceremony held in Switzerland; achievement of the "Unmanned Autonomous Construction Equipment Project" in collaboration with Gravis. ▶ "Real-X" excavator to be deployed at a construction site for major European construction group KIBAG. ▶ Unmanned autonomous technology to perform earthwork on a 1km section in the Tuggen region, Switzerland. HD Hyundai XiteSolution, the intermediate holding company for HD Hyundai’s construction equipment business, has set a new milestone in construction equipment automation by deploying an unmanned autonomous excavator—capable of operating without human intervention—at an actual construction site for the first time.   On Wednesday, the 29th, HD Hyundai XiteSolution announced that, in partnership with Gravis Robotics, an AI-based unmanned automation specialist, it had delivered an unmanned autonomous excavator to a construction site operated by KIBAG, a large European construction group.   The equipment deployed is a 22-ton medium excavator from HD Construction Equipment. This unit features "Real-X," a solution that integrates HD Hyundai XiteSolution’s smart excavator platform with Gravis’s AI automation technology.   The excavator will be used at a construction site in Tuggen, Switzerland, for civil engineering work, including a trench that is 3m deep, 12m wide, and 1km long, using entirely unmanned autonomous methods.   The unmanned autonomous excavator powered by "Real-X" is not affected by operator fatigue or lapses in concentration. It can perform tasks according to preset goals and achieve productivity levels about 1.2 times higher than those of manned operations.   The delivery of this equipment is a significant result of the "Unmanned Autonomous Construction Equipment Project" jointly led by HD Hyundai XiteSolution and Gravis Robotics. The two companies have maintained their technical cooperation since signing a Memorandum of Understanding (MOU) for demonstrations of construction equipment automation at BAUMA 2025 in Germany last year.   HD Hyundai XiteSolution has been working towards fully automating construction sites since 2019 by developing unmanned autonomous solutions. Recently, the company has strengthened its leading position in this field by showcasing equipment equipped with "Real-X" during major exhibitions in Europe and North America for global customers.   Building on its previous demonstrations in Europe and this latest supply to the Swiss site, HD Hyundai XiteSolution plans to expand global partnerships and gradually increase the application cases for unmanned autonomous construction equipment.   "This project represents the initial phase of integrating unmanned autonomous construction equipment technology at a real job site," said Kim Pan-young, Senior Executive Vice President of HD Hyundai XiteSolution. "It will act as a turning point, improving safety and productivity on construction sites while advancing the future of the global construction equipment industry."