Hyundai Targets Sales of 5,000 Fuel Cell Cars This Year
Hyundai Motor Co. says it already has surpassed 2018’s full-year sales for its Nexo fuel cell vehicle with nearly 1,100 deliveries, and the company expects volumes to hit 5,000 by year-end.
Last year, the carmaker sold about 950 Nexo models (pictured) and another 17 of the previous-generation Tucson ix fuel cell vehicle. Four out of five of the 2018 deliveries were in South Korea.
This year’s tally marks the first time Hyundai has sold more than 1,000 fuel cell-powered cars in a year since 2013. Korea’s allocation has dropped to 70% of the total this year, but demand there is expected to accelerate as new government incentives for fuel cell and other electrified vehicles begin.
Hyundai launched the Nexo in Korea and Europe last summer. Deliveries in the U.S. began in January. The new model can travel about 600 km (370 miles) per fill-up—about 25% farther than the Tucson FCEV.
Hyundai and its Kia unit aim to produce 700,000 fuel cell systems per year by the end of next decade. Some 500,000 systems are expected to be used for passenger cars and commercial trucks. Another 200,000 are earmarked for forklifts, drones and industrial equipment.
In December, Hyundai announced that it and its suppliers plan to invest a combined 7.6 trillion won ($6.7 billion) by 2030 to develop next-generation fuel cell vehicles and related technologies.
For conducting business in the U.S. market, Toyota has historically had several separate business entities: a sales and distribution company headquartered in California (Toyota Motor Sales, USA); manufacturing operations (Toyota Motor Manufacturing North America); a racing subsidiary (Toyota Racing Development, USA); the Toyota Technical Center for R&D in Ann Arbor; and a design facility in California (Calty Design Research, Inc.). On April 1, 2006, Toyota merged its R&D operations and its manufacturing operations into a single company.
Often when there are vehicles that have ceased production and are in the process of being completely moved out of the system there are sales numbers that look like this: Honda Insight: June 2016, 9; June 2015, 126; % change: 93.1% Sometimes there is a vehicle that has just gone into production and it catches the sales at just the right time so that there are numbers that look like this: Honda Ridgeline: June 2016, 2,472; June 2015, 7; % change: 33,856% OK.
Back in 2012 Audi bought Italian motorcycle manufacturer extraordinaire Ducati for €860-million which, at the time, probably seemed like a good idea.