Hyundai Motor Reenters Japanese Market After 10 Years... Leading with Eco-Friendly Vehicles

Nikkei Reports "Hyundai Motor to Launch 'Nexo' in 2022"

Nexo (Photo by Hyundai Motor Company)

[Asia Economy Reporter Kim Ji-hee] Hyundai Motor Company is knocking on the door of the Japanese market again after more than 10 years, led by eco-friendly vehicles.

The Nihon Keizai Shimbun reported on the 19th that Hyundai plans to launch the hydrogen fuel cell vehicle (FCV) model 'Nexo' in the Japanese market in 2022. According to the report, Hyundai has obtained the necessary certifications for sales in Japan to launch the Nexo. In addition to the electric vehicle (EV) sports utility vehicle (SUV) 'Kona Electric,' which is already sold in Korea and other countries, Hyundai is also considering introducing new models scheduled for release after next year.

Hyundai first entered the Japanese market in 2001 but withdrew in 2009 after failing to overcome low brand power. At that time, Hyundai struggled to surpass the dominance of local manufacturers such as Toyota.

Hyundai appears to have judged that while it is difficult to succeed with internal combustion engine models in the Japanese market, it has competitiveness in the eco-friendly vehicle sector. Foreign media explained that Hyundai began research for re-entry into Japan as early as last summer. In particular, the Japanese government's policies to promote the spread of electric vehicles and the rapid expansion of related infrastructure such as hydrogen charging stations and EV chargers are also cited as reasons for Hyundai's re-entry.

Hyundai is accelerating its electrification strategy, announcing plans to launch 23 electric vehicle models by 2025.

A Hyundai official responded to the report by saying, "We always observe new potential markets with an open mind, but entry into the Japanese market has not been confirmed at this time."

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