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Hyundai Targets 15% of European Hydrogen Truck Market by 2030

Date:2020-07-24 Author:Will Source:businesskorea

Hyundai Motor has unveiled its goal to increase its share of the European market for hydrogen-powered trucks to 15 percent by 2030.

Earlier this month, the company shipped 10 XCIENT Fuel Cell trucks, the world's first mass-produced hydrogen-powered large trucks, to Switzerland.

"Hydrogen commercial vehicles are expected to grow mainly in the large truck sector," Hyundai Motor said in a conference call for the second quarter held on July 23. "We are targeting 12 to 15 percent of the European market for large hydrogen-powered trucks in 2030."

"In the United States, demand will expand rapidly due to stricter regulations requiring sales of eco-friendly cars by OEM makers," the carmaker said. "We plan to target California where hydrogen energy is drawing much attention."

"In the hydrogen commercial vehicle lineup, we are focusing on large trucks and tractors," Hyundai Motor said. "In the bus business, we are currently focusing on city buses but is planning to develop inter-city buses in the medium term and buses for highways in the long term."

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