Hyundai Aims to Beat Toyota in Hydrogen Fuel Cell Vehicles

Strategic Insights -

Hyundai has announced plans to sell hydrogen fuel cell cars starting in 2012, three years before their competitors, including Toyota and Honda. The company plans to deliver the world's first series production fuel cell vehicle in 2012, with 500 hydrogen vehicles rolling off the line that year. This is a significant move, as renewable energy is becoming increasingly cost-competitive, and hydrogen fuel cell cars are more commercially viable than they were a year ago.

Key Takeaways:

  • Hyundai plans to deliver the world's first series production fuel cell vehicle in 2012, with 500 hydrogen vehicles rolling off the line that year.
  • The company aims to increase production of hydrogen fuel cell vehicles up to 10,000 units by 2015, a year when most other automakers will be just getting started on their FCVs.
  • The first 500 vehicles produced are likely to be leased out to fleets and other similar buyers until production increases to at least 1,000 units by 2013.
  • Hyundai plans to beat Toyota's price tag of $50,000, although the type of technology the company will use in its units is unknown.
  • Hyundai has made several important innovations over its previous fuel cell concepts, including the Tucson fuel cell EV.
  • The ix35 Hydrogen Fuel Cell vehicle is one of the models that showcases Hyundai's commitment to hydrogen vehicles.

Statistics:

  • Hyundai plans to roll out 500 hydrogen vehicles in 2012.
  • The company aims to increase production to 10,000 units by 2015.
  • The first 500 vehicles produced will be leased out to fleets and other similar buyers.
  • Hyundai plans to reach a production of at least 1,000 units by 2013.
  • Hydrogen refueling stations are becoming more commonplace.

Sources:

  • Hyundai [Source: Euclid Infotech Pvt. Ltd., 2010]
  • Euclid Infotech Pvt. Ltd. [Source: Contify.com, 2010]