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Hyundai Executive Says Early EVs Hurt Market Takeoff

By October 1, 2012

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Hyundai's Lim Tae-won has been quoted by Reuters as saying Nissan and other automakers that began mass production of electric vehicles got into the game too early and too deep. Such actions, he claims, hurt broader acceptance of EVs because adequate infrastructure was not in place to support broad sales of the electric cars. The result has been consumer turn off and a slow down of potential market takeoff.

He goes on to predict that sometime between 2020 and 2025, hydrogen fuel cell electric vehicles (FCEVs) will become price competitive with battery-electric vehicles, and that FCEVs will then become preferred over battery-electric ones.

At the recent Paris Motor Show, Hyundai unveiled its plans to launch the first mass-produced FCEV, which will be known as the Tucson in the U.S. If all goes according to plan, the fuel-cell crossover will be made available for lease by the end of this year. Hyundai says it will produce about 1,000 of the vehicles, which will have a range of about 365 miles.

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