SEOUL, March 27, 2018 – Hyundai Motor Company began sales of its NEXO fuel cell electric vehicle today in Korea following very successful pre-orders.
Prior to retail sales commencing, the NEXO had been met with wide public interest, with a total of 1,061 vehicles being ordered throughout the pre-order period between March 19-26, 2018. Just on the first day of pre-order availability, NEXO recorded order of 733 vehicles.
“We are witnessing a historic day as fuel cell technology is being commercialized in large quantities. With this positive beginning, we will continue our efforts in overseas markets to support fostering the newly developing fuel cell vehicle market”, said Byung Kwon Rhim, Executive Vice President of Hyundai Motor Company in charge of Global Operations Division.
On the same day, Hyundai delivered the vehicles to both local governments of the city of Ulsan and Gwangju in Korea. The ceremony in Ulsan took place at the hydrogen house, created through joint efforts from Hyundai and Ulsan city, while in Gwangju the ceremony took place at the newly built DongGok hydrogen multi energy station. Both local governments expressed their intention to expand hydrogen refueling infrastructure.
Hyundai Motor also introduced new measures to encourage the further spread of fuel cell electric vehicles. Hyundai announced a 10-year, 160,000km warranty for fuel cell components to reassure customers of the durability and reliability of fuel cell electric vehicles sold in Korea. Furthermore, Hyundai announced it has secured personnel and equipment to service NEXO vehicles in all of its 22 service networks in Korea.
The pricing of the fuel cell electric vehicle is set at 68,900,000 KRW for the Modern trim and 72,200,000 KRW for the Premium trim in Korea. The Government subsidy could reach a maximum of 35,000,000 KRW, with a central government’s subsidy for fuel cell electric vehicle of 22,500,000 KRW and a regional government’s subsidy ranging from 10,000,000~12,500,000 KRW. The final purchase price could be as low as 33,900,000 KRW for the Modern trim and 37,200,000 KRW for the Premium trim.
Pricing of NEXO for overseas market will be disclosed at later date close to their market launches.
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About Hyundai Motor
Established in 1967, Hyundai Motor Company is committed to becoming a lifetime partner in automobiles and beyond. The company leads the Hyundai Motor Group, an innovative business structure capable of circulating resources from molten iron to finished cars. Hyundai Motor has eight manufacturing bases and seven design and technical centers worldwide and in 2017 sold about 4.5 million vehicles globally. With more than 110,000 employees worldwide, Hyundai Motor continues to enhance its product line-up with localized models and strives to strengthen its leadership in clean technology, starting with the world’s first mass-produced fuel cell electric vehicle and IONIQ, the world’s first model with three electrified powertrains in a single body type.
Global PR Team / Hyundai Motor
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