Hyundai to slash by nearly half price of its FCV but only in South Korea

Hyundai Motor Co. has said it will lower the price of its model of fuel cell vehicle (FCV), the Tucson, by 43% in a bid to increase sales, Reuters news agency reported January 2. It added that the company is also considering discounts in other markets.

With the discount, a Hyundai Motor Co. will be available for purchase for the equivalent of just over US$77,000, the report said.

“In developing more environmentally friendly technology, Hyundai has long trumpeted fuel cell electric vehicles over battery-powered alternatives, but the high price tag and a lack of refueling stations have been roadblocks to adoption,” Hyundai said.

It takes less than 10 minutes to fill the car. It has a 265-miles range between refueling and its only emission is water.

The slashing of the price is expected to help attract buyers that would have otherwise gone with Toyota’s recently introduced FCV