The Korea Herald reported that Hyundai Motor plans to unveil a new fuel-cell electric vehicle with a price tag of 60 million won (~US$53,900)—around half the price of the current Hyundai Tucson Fuel Cell. With Korean government subsidies of 27.5 million won (~US$24,700), the purchase price for customers could be lowered to about 33.5 million won (~US$30,100). At the same time, the driving range will increase from the current 415 kilometers (258 miles) to 600 kilometers (373 miles).
Hyundai unveiled the plan during the launch event of a government-industry alliance targeting 10,000 fuel-cell vehicles on the road by 2020.
The report said that the Korean government plans to increase tax benefits to customers with aims to increase the number of fuel-cell vehicles to 10,000 in Korea by 2020, while exporting 14,000 vehicles outside the nation.