Hyundai working on electric vehicles and hydrogen fuel cell vehicles

While some automakers have dropped out of the fuel cell vehicle (FCV) race and others, including Toyota, are pessimistic over their commercialization, Hyundai’s dual approach to eco-friendly cars means it could claim an advantageous position once the technology takes off. The company is working on both electric vehicles and hydrogen fuel cell vehicles (FCV). “We don’t know yet where the future of eco-friendly cars is heading. For now, we are working on both,” said a spokesperson with the Hyundai Motor Group. Hyundai’s FCVs are electric vehicles that use an alternative energy source. The Korean government’s 2007 blueprint on the hydrogen energy industry calls for 10 hydrogen stations, 500 FCVs and 20 fuel cell buses by 2012. Between 2013 and 2020, the government wants to create a market with 500 stations and 50,000 FCVs. Hyundai Motor and Kia Motors are both working within this timeline. The two automakers plan to distribute FCVs for testing in 2012. Mass production is targeted for 2015. (August 19, 2011)