Hyundai’s fuel cell vehicle sales jumped to No. 1 in the world, mainly due to increased domestic demand
In the field of hydrogen fuel cell vehicles, Japanese and Korean vehicles have always been dominated, and Japanese vehicles have dominated.
According to foreign media reports a few days ago, the Korea Automobile Manufacturers Association (KAMA) predicted that Hyundai Motor Group (hereinafter referred to as “Hyundai Motors”) sales of fuel cell vehicles in 2019 may reach 3,666 units, surpassing Toyota and ranking first in the world.
The growth of Hyundai’s fuel cell vehicle sales was mainly attributable to the increase in domestic demand. In the first 10 months of this year, its sales increased by 576% year-on-year, surpassing Toyota and ranking first; the second-ranked Toyota’s sales in the first 10 months increased by 16.8% year-on-year; Honda It fell 54% year-on-year, ranking third.
From the perspective of the global market, from January to October this year, South Korea’s fuel cell vehicles reached 3,207, a year-on-year increase of 622%, ranking first in the world; while the United States, Japan and the European Union ranked second, third and fourth respectively.
In fact, as early as 1998, Hyundai Motor began to develop hydrogen fuel cell technology, and in 2013 opened the quantitative era of hydrogen fuel cell vehicles. According to the plan, by 2025, Hyundai Motor aims to sell 670,000 electric vehicles per year, including 560,000 pure electric vehicles and 110,000 fuel cell electric vehicles, with a view to becoming the world’s top three battery and fuel cell electric vehicles by 2025 one of the manufacturers.
It is reported that next year, hydrogen fuel cell vehicles in South Korea will reach a scale of more than 1 trillion won. To achieve this, the government has submitted the 2020 hydrogen fuel cell vehicle subsidy budget to Congress, an increase of 52.1% compared to 2019.