Hyundai considering fuel cell vehicles for India: Begins feasibility study

The parent — Hyundai Motor Corporation — has announced $17-billion investments over the next six years towards fuel cell vehicles to attain the vision of zero-emission mobility player in the world.

By: | Published: December 6, 2019 8:10 AM

Hyundai Motor India Ltd (HMIL) on Thursday said that it was evaluating launching fuel cell electric vehicles (hydrogen fuel) and accordingly started feasibility study in India on the same to strengthen its commitment towards greener mobility ecosystem. The company’s proposal on introducing fuel cell vehicles in India stems from the fact that its parent’s successful launch of first fuel cell vehicle — Nexo — in China and other matured markets last year.

The parent — Hyundai Motor Corporation — has announced $17-billion investments over the next six years towards fuel cell vehicles to attain the vision of zero-emission mobility player in the world. The Korean chaebol said that it would address vehicle electrification by first targeting younger demographics and enterprise customers with affordable battery electric vehicles (BEVs) to achieve economies of scale. By 2025, the company aims to sell 670,000 electric vehicles annually, comprising 560,000 BEVs and 110,000 fuel cell electric vehicles (FCEVs) to become one of the world’s top three manufacturers of battery and fuel cell EVs by 2025.

The goal is to electrify most new models by 2030 in key markets, such as Korea, the US, China and Europe, with emerging markets such as India and Brazil following suit by 2035, it further said. It may be recalled that Hyundai India was the first to introduce EV Kona a few months ago and got over 310 bookings so far. Commenting on the initiation, HMIL managing director and CEO SS Kim said: “Progress for humanity with zero-emission mobility is our responsibility and vision to make a long-term positive transformation for our future generations. We have initiated the feasibility study for fuel cell electric vehicle in India and promised to bring the ultimate solution with zero-emission mobility.”

He further said that Hyundai was a responsible and caring brand with a cause and had always led the zero-emission mobility revolution for a greener, cleaner and brighter future of India. As a technology- and innovation-driven brand, Hyundai is aligned and committed to embark on the journey of India’s future mobility.”

During the recently concluded first international Organisation of Motor Vehicles Manufacturer (OICA) Conference in India, Korea Manufacturers’ Association (KAMA) shared the strong developments made in the area of fuel cell technology and also talked about the global success of commercially available fuel cell electric vehicle — Hyundai Nexo. Fuel cell electric vehicle (FCEV ) is the ultimate eco-friendly mobility solution that will change the paradigm of automobile ecosystem across the world. FCEVs are free from any greenhouse gas emissions as vehicle filters and these purify the air during its drive. When air filters through FCEV, 99.9% of particulates are purified, cleaning the environment.

Do you know What is Automated Manual Transmission (AMT), Electronic Brakeforce Distribution (EBD), Anti-Lock Braking System, Power Steering? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Get the latest cars price and upcoming bikes price in India exclusively at Financial Express. Stay tuned for new cars and bikes reviews, follow us on twitter, Facebook and subscribe us on YouTube for latest auto news.

Next Stories
1No Time To Die trailer: Daniel Craig as Bond one last time drifting Aston Martin DB5, jumping dirt bikes
2Hyundai might launch fuel cell electric vehicles in India soon: Here’s what you can expect
3Kia Motors announces official opening of Anantapur plant: To unveil Carnival MPV at 2020 Auto Expo