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The impact of the population increase on rising pollution levels and the requirement to successfully cut carbon emissions has influenced the trend toward clean fuels and green technology.
This has had a favorable effect on the demand for FCV in recent years. The current shift from traditional fuel automobiles to eco-friendly vehicles has raised the demand for FCVs.
Other reasons including strict environmental restrictions, the availability of incentives and subsidies for clean fuels, and hazardous gas emissions from combustion engine automobiles are fueling the market expansion.
In addition, the industry’s growth has been sped up by manufacturers developing alternative powertrains in response to growing public concern over automobile pollution.
The South Korea Fuel Cell Vehicle Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
The Hyundai Motor Group supports hydrogen as the best source of sustainable energy. The South Korean carmaker said that it will provide hydrogen fuel cell versions of all its commercial cars using its new fuel cell system, which it hopes to introduce soon.
During a webcast of the automaker’s Hydrogen Wave presentation, Hyundai revealed its hydrogen future plan.
The Vision FK, is a high-performance, rear-wheel-drive hydrogen sports vehicle with a 500kW fuel cell system that can propel it from 0 to 100 kilometres per hour in less than four seconds and has a range of 600 kilometres (373 miles), was also shown by the business.
When the car would go into production was not disclosed by Hyundai. Hyundai’s dedication to hydrogen does not interfere with its dedication to electric.
By offering hydrogen-powered fuel cells and electrolyzers that generate renewable hydrogen, Bloom Energy declared its entry into the commercial hydrogen industry. Through a broadened cooperation with SK Engineering and Construction, a subsidiary of SK Group, these goods will be initially made available on the South Korean market.
In order for South Korea to implement its government-mandated Hydrogen Economy Roadmap, Bloom’s technologies are essential.
Kia is anticipated to start by pursuing the military market. In addition to power generation trucks and emergency generators powered by hydrogen fuel cells, it also contains military hydrogen electric vehicles. The plan then is to add the passenger car line to the mix.
Kia is anticipated to encourage the conversion of military-provided command vehicles (Mohave) and 2.5-ton and 5-ton trucks to hydrogen electric cars. Additionally, it aims to transform current power sources like diesel generators, disposable main batteries, and rechargeable secondary batteries into hydrogen-powered electricity.