Hyundai Motor Co, an early backer of hydrogen cars, has watched the electric rise of Tesla, including on its home turf. Now's it's going on the ...
Hyundai Motor Co, an early backer of hydrogen cars, has watched the electric rise of Tesla, including on its home turf. Now's it's going on the offensive in the battery-powered market led by its U.S. rival.
Hyundai told Reuters it was collaborating with Korean battery suppliers"to scale up" its electric car production efficiently. It declined to comment on any plans to introduce dedicated production lines.The moves indicate the carmaker is moving aggressively to expand its electric capacity, days after Chung announced on July 14 that Hyundai Motor Group aimed to sell 1 million battery EVs a year and grab a global market share of over 10per cent by 2025.
No traditional automaker has been successful yet in catching up with Tesla, which retains an edge in battery and software technology. In a 2014 book Lee, who developed South Korea's first gasoline engines, said such electric vehicles were"not realistic", also citing high battery costs, and that hydrogen cars - a rival clean technology - offered a"bright" future.
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