Hyundai sees future in green technology

Korean automaker Hyundai Motor Co. has been placing much emphasis on eco-friendly automobiles, such as hybrid electric vehicles and hydrogen fuel cell vehicles. The company’s intentions were reaffirmed by Hyundai Kia Automotive Group Chairman Chung Mong-koo in March 2008, when he said that the group would push on with its hybrid electric and hydrogen fuel cell projects to secure new growth engines in the future. Although the company is far behind Toyota Motor Corp., which has not only been selling hybrid electric cars for some time but has also introduced hydrogen-powered cars in a few markets, Hyundai Motor is catching up fast. (November 29, 2008)