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Hyundai Motor Co (005380.KS) and its affiliates are ready to decide the location of a new hydrogen fuel-cell system factory this year, which could be in South Korea or overseas, an executive said on Wednesday.

The factory will be capable of producing more than 100,000 fuel cell systems, which include the fuel-cell stack and power control unit, annually from around 2024, Jeon Soon-il, a Hyundai Motor Group executive in its fuel cell division, said at a conference in Tokyo on Wednesday.

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