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Hyundai: hydrogen cars will gain wider acceptance in 10 years

Hyundai Motor Company said Monday it believes hydrogen fuel cell vehicles are the future for eco-friendly cars despite challenges of limited infrastructure and slow sales. South Korea's largest automaker has sold or leased 273 Tucson fuel cell SUVs since beginning production in 2013, mostly in Europe and California. The company had plans to make 1,000 in its first year of production. Kim Sae Hoon, general manager at Hyundai's fuel cell engineering design team, said fuel cell cars represent a bigger opportunity than electric cars because competition is less fierce. Hydrogen-powered cars also give more flexibility to designers, he said. They can be scaled to big vehicles such as buses as well as small cars. They can also be refueled as quickly as gasoline cars while traveling more miles than electric vehicles. The Tucson's European version, called the ix35 Fuel Cell, can travel up to 594 kilometers (369 miles) while its US model travels up to 265 miles (426 kilometers) on one charge on the various government efficiency tests. It emits water vapor and no greenhouse gases. High prices and the dearth of fueling stations are barriers to sales of fuel cell vehicles. Hyundai said it will be another 10 years before hydrogen cars start gaining wider acceptance. In the meantime, sales of eco-friendly cars are dominated by hybrid models such as Toyota's Prius and electric vehicles such as the Nissan Leaf, which are more affordable than fuel cell cars. Hyundai also produces hybrid cars and electric vehicles. It plans to invest 11.3 trillion won ($10 billion) in eco-friendly technology including hybrid cars, electric battery vehicles and hydrogen fuel cells in the four years from 2015. To boost sales, Hyundai slashed the Tucson fuel cell's price in South Korea in February to 85 million won ($76,000) from 150 million won ($134,000). South Korean customers are local government offices as there is no government subsidy for consumers. South Korea's government plans to establish 10 charging stations for fuel cell cars and expects 1,000 hydrogen-powered vehicles will be on the streets in South Korea by 2020. Japan started production of hydrogen-powered cars later than South Korea but such vehicles are experiencing faster growth in Japan with support from Prime Minister Shinzo Abe's government. Toyota started sales of its Mirai fuel cell sedan in December and has decided to increase production to 3,000 vehicles in 2017, which is quadruple production this year.

Hyundai missing Q1 earnings targets blamed on slow US sales

Slow US growth is hampering profits at Hyundai. In its first quarter financial statement, the Korean automaker reported a profit of 1.93 trillion won ($1.86 billion). According to Reuters, this is less than analysts' expectations and nearly the same as last year.
According to the report, US sales fell by 3 percent in Q1 2014. To make matters worse, the high value of the South Korean currency caused lower profits on models exported from there. On the bright side, Hyundai's Chinese sales rose by 9 percent, according to Reuters. It's also working on building a fourth factory there.
The company has had a rough time in the US throughout the quarter. John Krafcik, the CEO of Hyundai of America, stepped down on January 1, and the company was already predicting slow growth in sales for 2014. Falling quality scores for the Sonata and Elantra aren't helping matters either. However, there may be hope on the way. The second-generation Genesis Sedan was introduced to the US in Detroit, and the redesigned Sonata was recently shown in New York. Successful launches of these important models could prove crucial.

Recharge Wrap-up: TRD Toyota Prius, new Hyundai Tucson Fuel Cell dealer

A new study predicts that biofuels capacity will grow to 61 billion gallons per year by 2018. The findings from Lux Research also suggest that biodiesel and ethanol will make up 96 percent (about 5.76 billion gallons) of that. Sixty-four percent of biofuels will come from the Americas, led by the US and Brazil, but with Colombia and Argentina emerging as important producers. Other large emerging producers are China, Indonesia, and Thailand in Asia, and Portugal, Poland, and France in Europe. A large share of next-generation biofuels are expected to come from waste oils. Read more at Domestic Fuel. Images of Toyota Racing Development equipment for the 2016 Prius have leaked. The images show what are likely cosmetic upgrades for the JDM version of the hybrid, including a rear spoiler, front spoiler lip, extended side skirts and a selection of wheels ranging from 15 to 18 inches. Also shown are LED daytime running lights and a dual-tip, centrally mounted exhaust. Expect to see the official reveal of the TRD Prius at the Tokyo Motor Show, where there will surely be more details about the add-ons, including the possibility of some interior features. See the leaked images and read more at Motor1. A fourth Hyundai dealer in southern California now sells the Tucson Fuel Cell. Keyes Hyundai in northern Los Angeles has met the requirements to sell the hydrogen-powered CUV. So far, Hyundai has delivered more than 75 Tucson Fuel Cell vehicles, which have logged almost 700,000 miles on southern California roads. "Keyes Hyundai is thrilled to be added as a qualified dealer for Hyundai's zero-emissions Tucson Fuel Cell hydrogen electric vehicle," says David Kohan, the dealership's general manager. "Our location in the northern Los Angeles region makes it even more convenient for local residents to conveniently acquire their new Tucson Fuel Cell CUV, helping reduce greenhouse gas emissions." The other qualified dealerships are located in Anaheim, Carson and Tustin. Read more in the press release below. Keyes Hyundai In Los Angeles Added To Growing Collection Of Hyundai Tucson Fuel Cell Dealers Keyes Hyundai Joins Tustin Hyundai, Win Hyundai in Carson and Hardin Hyundai in Anaheim as a Qualified Hydrogen Fuel Cell Dealer LOS ANGELES, Sept. 22, 2015 /PRNewswire/ -- Keyes Hyundai in Los Angeles became the fourth qualified dealer for Hyundai's zero-emissions Tucson Fuel Cell hydrogen electric vehicle today. Hyundai is the only manufacturer in the U.S.