Hyundai and Kia to Unveil Electric Car at Frankfurt Motor Show

Strategic Insights -

South Korea's top car makers, Hyundai and Kia, are pushing forward with their "green car" initiative by unveiling an electric vehicle at the Frankfurt Motor Show in Germany next month. The exhibition is in line with the company's goal to manufacture environmentally friendly cars that don't emit carbon dioxide. The showcasing of an electric car at the global motor show indicates significant progress in the company's "green car project", with industry watchers noting that the company has made considerable headway. The plan to develop environmentally friendly cars is part of the company's master plan to become one of the world's four largest green car makers.

Key Takeaways:

  • Hyundai and Kia plan to unveil an electric car, the i10, at the Frankfurt Motor Show scheduled for Sept. 15-17.
  • The exhibition is part of the company's push to manufacture "green cars" that don't emit carbon dioxide.
  • The company aims to become one of the world's four largest green car makers under its master plan to develop environmentally friendly cars.
  • The plan includes producing hybrid and hydrogen fuel cell vehicles within two to three years.
  • Hyundai and Kia will start selling plug-in hybrid electric vehicles in the United States in 2012.
  • Hyundai and Kia have invested a total of 4.1 trillion won (US$3.3 billion) by 2013 to develop more fuel-efficient vehicles with lower carbon emissions.
  • The company began selling hybrid versions of their Avante and Forte compact models, powered by liquefied petroleum gas, in South Korea this month.

Statistics:

  • Hyundai and Kia plan to invest 4.1 trillion won (US$3.3 billion) by 2013 to develop more fuel-efficient vehicles.
  • The company aims to become one of the world's four largest green car makers.
  • Hybrid and hydrogen fuel cell vehicles are expected to be produced within two to three years.
  • The i10 electric vehicle will be showcased at the Frankfurt Motor Show on Sept. 15-17.
  • Hyundai and Kia will start selling plug-in hybrid electric vehicles in the United States in 2012.

Sources:

  • "Hyundai, Kia to unveil eco-friendly car at Frankfurt Motor Show", Yonhap News Agency
  • "Hyundai to unveil eco-friendly car at Frankfurt Motor Show", Asia Pulse News