[Hyundai Motor Conference Call] "Developing Hydrogen Electric Tractors and Intercity Buses... Also Considering Express Buses"
[Asia Economy Reporter Suyeon Woo] Hyundai Motor Company stated on the 23rd during the 2020 Q2 earnings conference call that "we are focusing on expanding the hydrogen vehicle lineup to include tractors," and "for buses, we are considering the development of regional buses in the mid-term and express buses in the long-term."
Regarding the mid- to long-term overseas market entry goals, the company said, "For hydrogen electric heavy-duty trucks, we aim for a 12-15% market share in Europe by 2030," and "we plan to enter countries with strong government-driven initiatives such as the Netherlands, Norway, Germany, and Austria."
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In particular, the U.S. market is expected to see faster-than-anticipated demand growth due to regulations mandating eco-friendly vehicle sales ratios by OEMs in the truck market, and Hyundai plans to focus its entry around California, where there is high interest in hydrogen energy. For China, the company is preparing local production in line with the Chinese government's hydrogen energy industry promotion policies and is considering entry centered on Beijing, Tianjin, and Hebei Province, where interest is high.
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