SEOUL
(Reuters) - Hyundai Motor Co.
said it will lower the price of its Tucson fuel cell electric vehicle by
43 percent in South Korea and consider cutting prices of the car overseas to
compete with models from the likes of Toyota Motor Corp.
The
South Korean automaker - the world's fifth-biggest when paired with sister Kia
Motors Corp - hopes to popularize fuel cell cars in its home market
by cutting the price of the Tucson ix to 85 million won ($77,189).
In
developing more environmentally friendly technology, Hyundai has long trumpeted fuel cell electric vehicles
over battery-powered alternatives, but the high price tag and a lack of refueling
stations have been roadblocks to adoption.
South
Korea has only one hydrogen fuelling station, with another to be opened in the
first half of this year and a government goal to increase the number to 200 by
2025.
The
carmaker said it had sold only 200 electric vehicles so far, including in the
United States and to European governments.
"A
significant price cut in the fuel-cell driven Tucson line of vehicles will
allow higher supply volume for fuel-cell vehicles in general by making them
more affordable for consumers," Hyundai said in a statement
on Monday.
In
December, Japanese rival Toyota launched its Mirai fuel cell sedan
with a pre-tax price tag of 6.7 million yen ($56,934). Toyota said on Jan. 15
that it planned to sell at least 3,000 Mirai fuel cell sedans at
least in the United States by the end of 2017.
Hyundai Motor Group has
said it would invest 11 trillion won in eco-friendly car development by 2020
and launch its second fuel cell
model by 2020.
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