To: Haim R. Branisteanu who wrote (177865 ) 9/7/2021 9:26:35 PM From: TobagoJack Read Replies (2) | Respond to of 217661 Updateft.com Hyundai targets hydrogen fuel cells in all commercial vehicles by 2028 South Korean group pledges to slash prices by 50% as it sets 2045 carbon neutrality goal yesterday Hyundai has delivered the world’s first mass-produced hydrogen powered truck, but it has been criticised in the past for being slow to invest in new technologies © Denis Balibouse/ReutersHyundai Motor Group is aiming to become the world’s first automaker to power all its commercial vehicle models with fuel cell systems by 2028 as it seeks to popularise hydrogen vehicles by cutting the cost of the technology. The announcement came as the South Korean conglomerate ratchets up its shift from petrol engines to batteries and hydrogen power to meet growing demand for vehicles with cleaner fuels. Hyundai, which together with affiliate Kia is the world’s fifth-largest automaker, has invested heavily in developing hydrogen technology in the hope that it will prove more popular than electric power in the transition from petrol and diesel vehicles. The carmaker said on Tuesday that it would introduce next-generation fuel cell systems in 2023 while slashing costs more than 50 per cent, to bring prices in line with those of electric vehicles by 2030. Hyundai said its “daring strategy” would put it “at the vanguard of the commercial vehicle sector, in the process helping to reshape the industry and realise a sustainable clean future”. The company outlined a goal of cutting carbon emissions for its global products and operations by 70 per cent by 2040, and of reaching carbon neutrality by 2045. Hyundai, which has more than two decades of experience in fuel cell system development, is also accelerating the development of hydrogen powered engines for ships, drones and aircraft. Recommended The company introduced the world’s first mass-produced fuel cell electric vehicle in 2013, which was followed by the Nexo hydrogen sport utility vehicle in 2018. It has also delivered Xcient fuel cell trucks , the world’s first mass-produced hydrogen powered truck, to Switzerland. Hyundai has targeted production of 700,000 hydrogen fuel cell vehicles by 2030. But sales have been low because of the cost of the technology and a lack of refuelling stations. Hyundai sold 6,860 hydrogen vehicles last year, up 41.8 per cent from 2019. “Hyundai is accelerating the hydrogen technology development in order to cement its lead in the nascent sector and to boost its appeal as an environment-friendly carmaker,” said Lee Hang-koo, an executive adviser at Korea Automotive Technology Institute. “Commercial vehicles seem to be a better target than passenger cars for the hydrogen technology, given its edge in terms of driving range and refuelling time.” Climate Capital Where climate change meets business, markets and politics. Explore the FT’s coverage here . Are you curious about the FT’s environmental sustainability commitments? Find out more about our science-based targets here Hyundai, which had long been criticised as slow to pursue new technologies, announced a plan in December to invest more than Won60tn ($52bn) over five years in emerging technologies including electric vehicles, hydrogen fuel cells and autonomous driving. Proponents of emission-free hydrogen fuel, which also include Toyota, argue that the technology is suited to heavy, longer-distance transport. Purely electric vehicles face range limits , longer refuelling times and battery degradation. Hyundai is aiming for zero-emission vehicles to account for 30 per cent of its global sales by 2030, and projected electric and fuel cell vehicles would reach 80 per cent of its total sales by 2040. But Lee forecast that fuel cell vehicles would account for just 1 per cent of Hyundai’s global sales by 2030, while electric vehicles would make up at least 30 per cent.Hydrogen: how to harness a superfuel