Hyundai will offer fuel cell crossover for the US in 2014

Article by Anita Panait, on November 12, 2013

Hyundai is preparing a fuel cell electric crossover bound for the United States in 2014. Kwon Moon-sik, Hyundai Motor Group's president of r&d, remarked during a recent media event here, that cost factors are pointing the South Korean carmaker towards hydrogen-powered vehicles instead of battery-run ones, in which a number of carmaker say the potential for economies of scale are starting to dry up.

"There is no problem with the technology, only with the cost and profitability," Kwon said regarding battery EVs. He remarked that Hyundai cannot make a profit with battery EVs. He remarked that the advanced lithium ion batteries used in modern EVs are still costly, noting that there a few opportunities for cost cutting. Kwon remarked that hydrogen fuel cells offer more chances for volume savings.

His comments underscore the growing focus of the auto industry towards hydrogen fuel cell-powered vehicles, which have only water as the waste product.

Carmakers like Toyota, Honda, Daimler, General Motors, Ford and Nissan, as well as Honda, are considering rolling out more hydrogen-powered vehicles between 2015 and 2020. Some carmakers even have echoed Hyundai's statements over the potential for falling costs for such vehicles.

In July this year, GM and Honda entered into collaboration to develop a common fuel cell system to cut development costs for the technology as well as to consolidate their component supply base to help make the powertrains for such vehicles more affordable. Toyota, meanwhile, has said that the fuel cell vehicle to be rolled out in 2015 will cost around $50,000 to build, thanks to manufacturing efficiencies gained by producing 5,000 to 10,000 units annually.

If you liked the article, share on:

Comments

Recommended

One of the executives at Volkswagen tagged in the so-called Dieselgate scandal has pleaded not guilty to a list of allegations surrounding the carmaker’s actions to cheat emissions regulations in...
by - February 27, 2017
When the Crown De Luxe saloon was first released in 1972, it was at that time the most lavish Toyota model available to British customers. Both unusual and exclusive, one...
by - February 27, 2017
The ride-sharing fleet of sharing Lyft Inc. will soon include thousands of specially fitted self-driving Chevrolet Bolt electric vehicles, courtesy of General Motors. If plans push through, Lyft’s clients would...
by - February 27, 2017
J.D. Power has officially released the 2017 Vehicle Dependability Study, an annual list of the most dependable brands in the auto industry. Once again coming on top is Lexus, the...
by - February 26, 2017
Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries