Hyundai Reportedly Halts Development Of Hydrogen Tech [UPDATE]
company spokesperson has told South Korea’s main daily business newspaper Maeil Business the report published by The Chosun Ilbo is false: “The automaker denies the speculation, claiming its roadmap on next-generation fuel cell development and electrification of Genesis fleet remains intact.”
It was only a couple of days ago when The Korea Economic Daily reported on Hyundai’s yet-to-be-confirmed decision to shut down its R&D center for combustion engines. Fast forward to today, we’re hearing a somewhat similar report regarding hydrogen research. According to The Chosun Ilbo, plans to pursue a third-generation fuel cell stack have been abruptly halted.
If true, the decision comes as a surprise since the company’s Hydrogen Vision 2040 was presented just a few months ago. It is believed a recent internal audit revealed the South Korean brand is unable to meet the original target in terms of production cost reductions. Apparently, the Genesis hydrogen car had been in development for over a year and was supposed to come to fruition in 2025.