Stops Work on Third-generation Hydrogen Fuel Cells
Hyundai Motor Co. has stopped developing a follow-up to Xcient Fuel Cell, the world’s first mass-produced large hydrogen truck.
Until recently, the company worked on third-generation hydrogen fuel cells in order to increase the cell capacity to at least 200 kW and equip the truck and Genesis models with the cells. Recently, however, it changed its plan to decide in five years whether to develop the cells.
According to experts, this is because the marketability of the 200 kW-cell truck has yet to be confirmed. “The price of the fuel cells is estimated at 30 million won and this price needs to be at least halved in order to reach a profitability level comparable to that of ordinary electric vehicles,” one of them said, adding, “A huge investment is required for that goal, and it seems that the company’s technology is not enough to reach there in the near future.”
The change of plan has to do with the slow growth of the hydrogen vehicle market as well. According to market research firms, 5,908 hydrogen fuel cell vehicles were sold worldwide for the first four months of this year, down 2.5 percent from a year ago. At the end of April, Hyundai Motor Company’s share in the market with an unconfirmed growth potential was 52 percent, followed by Toyota (27 percent) and Honda (3.5 percent).
Hyundai Motor Company stressed that the halt does not mean giving up on hydrogen vehicles. “We are planning to invest 16.2 trillion won in alternative fuel vehicle development for three years to come and this investment in startups, R&D, and so on will be related to hydrogen vehicles as well,” it said.