By Seonjin Cha/Bloomberg
Seoul: Hyundai Motor Co., South Korea’s largest automaker, plans to make 300,000 gasoline-electric or diesel-electric powered vehicles by 2015 as customers opt for more fuel-efficient cars.
The Seoul-based carmaker aims to develop cars with fuel efficiency 50% greater than current models, the Ministry of Commerce, Industry and Energy said on 13 March. The plan includes production from Hyundai’s affiliate Kia Motors Corp., Hyundai Motor added.
Hyundai Motor is trying to catch up with Toyota Motor Corp. and Honda Motor Co., which already sell hybrid vehicles. Higher fuel prices have spurred demand for hybrid vehicles.
Hyundai Motor will begin commercial production of hybrid vehicles in 2009, the ministry said.
The carmaker aims to develop hybrid engines that would reduce emissions by 30% compared with current models, according to the statement. Hyundai Motor has requested the government provide tax incentives for hybrid car buyers, it said.
Hyundai Motor is also seeking to begin commercial production of fuel cell cars by 2010, the statement said.