Hyundai Begins Feasibility Study for Fuel Cell EVs in India

Hyundai India has initiated a feasibility study to bring in fuel cell EVs in the country.

Hyundai Motor India has announced that the firm has initiated a feasibility study to bring in fuel cell electric vehicles (EVs) in the country.

“Progress for humanity with zero-emission mobility is our responsibility and vision to make a long term positive transformation for our future generations,” Hyundai Motor India Ltd (HMIL) Managing Director and CEO SS Kim said in a statement.

The company has initiated a feasibility study for fuel cell electric vehicles in the country and promises to be a solution with zero emissions, he added. Fuel cell electric vehicles are free from all kinds of greenhouse gas emissions. The company claims that the Kona EV delivers a range of 452 km in one single charge under standard testing conditions.

The parent firm Hyundai Motor had also recently announced plans to invest about  6.1 trillion won/ USD 51.81 billion between 2020 and 2025, with a third of the expenditure focused on electric and autonomous vehicles, but analysts want to see it deliver. The South Korean carmaker unveiled a “Strategy 2025” roadmap that envisages annual average spending of 10 trillion won, exceeding that of previous years, and up from a 2018 figure of 6.1 trillion won.

The firm has also set an ambitious deadline of 2025 to place itself among the world’s top three makers of battery and fuel cell vehicles, with annual sales of 670,000 electric vehicles, including 560,000 battery-based cars.

In October, the Competition Commission of India (CCI) had provided its nod for the acquisition of shareholding by Hyundai Motor and Kia Motors in Ola Electric Mobility and ANI Technologies. Earlier in March 2019, the two companies, Hyundai and Kia, had disclosed that they would invest USD 300 million in ride-hailing startup Ola. This partnership is likely to help Ola in intensifying its battle with its close rival Uber, as it is providing cut-throat competition in the Indian market.

In September, the car manufacturer had announced that it had invested in IONITY, a joint venture established by global automakers. Under the agreement, Hyundai and Kia, affiliated automotive companies for Hyundai Motor Group, will play a key role in further enhancing the availability of Electric Vehicle (EV) charging stations with additional convenience benefits for its customers.