Accelerating Public-Private Cooperation in the Hydrogen Economy... Jeong Eui-seon: "NEXO Successor Model to Launch in 3-4 Years"

[Asia Economy Reporters Su-yeon Woo and Ji-hee Kim] Chung Eui-sun, Vice Chairman of Hyundai Motor Group, mentioned plans for a successor model to the hydrogen fuel cell electric vehicle (SUV) Nexo, revealing a concrete vision to lead the hydrogen economy by strengthening the product lineup.

At the inauguration ceremony of the '1st Hydrogen Economy Committee' held on the 1st at KINTEX in Ilsan, Vice Chairman Chung said, "We are thinking about a successor model to Nexo," adding, "It will be released in about 3 to 4 years." Earlier, Hyundai Motor Group announced plans to launch 10 commercial hydrogen fuel cell vehicle models by 2025 and aims to establish a production system for 500,000 hydrogen fuel cell vehicles by 2030.

Hyundai's hydrogen fuel cell vehicle Nexo, launched in 2018, is a second-generation model with improved performance compared to the first-generation Tucson hydrogen fuel cell vehicle. Nexo has a single-charge driving range of 609 km and a hydrogen refueling time of only 5 minutes. Nexo's driving range surpasses that of Toyota's Mirai and Honda's Clarity, ranking it among the world's best.

Hyundai Motor Group Vice Chairman Chung Euisun is entering the conference hall after attending the 'Hydrogen Economy Committee' appointment ceremony held at KINTEX in Ilsan on the 1st. Photo by Kim Jihee

On this day, Vice Chairman Chung attended the event as a private member of the 'Hydrogen Economy Committee,' the domestic control tower for the hydrogen economy. Meeting with Prime Minister Chung Sye-kyun, who chairs the committee, Vice Chairman Chung reportedly requested government-wide policy support for revitalizing the hydrogen economy while explaining Hyundai Motor Group's vision for the hydrogen economy.

The committee was composed of government members including Prime Minister Chung and ministers from eight ministries, along with 11 private members appointed from industry and academia, including Vice Chairman Chung. The first meeting consisted of the presentation of appointment certificates to each member and an introductory session, during which specific measures such as creating a hydrogen industry ecosystem and designating a dedicated agency were also discussed.

The launch of the Hydrogen Economy Committee was originally scheduled for February next year but was moved up to this month considering the urgency of issues such as policy delays due to the absence of a control tower for the hydrogen economy and responding to technological advancements in competing countries. Early last year, the government announced a roadmap to revitalize the hydrogen economy, aiming for a cumulative domestic supply of 2.9 million hydrogen fuel cell vehicles and 1,200 hydrogen refueling stations by 2040. As of May this year, the cumulative domestic supply of hydrogen fuel cell vehicles is approaching 7,400 units, and 100 new hydrogen refueling stations are planned to be installed this year alone.

Following the launch of Nexo in 2018, Hyundai Motor Group is expanding the application of hydrogen fuel cells to the commercial vehicle market. In April last year, Hyundai Motor established a joint venture (JV) with Swiss hydrogen energy company H2 Energy to supply 1,600 hydrogen fuel cell heavy trucks to the European market by 2025.

Additionally, Hyundai signed a memorandum of understanding (MOU) with Cummins in the United States to supply hydrogen fuel cell systems to the North American commercial vehicle market, with both companies jointly developing eco-friendly powertrains. Hyundai's unveiling of the first hydrogen-exclusive heavy truck concept car, the HDC-Neptune, in the North American market was also aimed at aggressively entering the North American commercial vehicle market. At the 'Hydrogen Mobility+ Show' held at the same venue on the day, Hyundai revealed the Neptune concept car for the first time in Korea.

This content was produced with the assistance of AI translation services.