According to a Korean Herald article Hyundai Motor Company is intensifying its efforts to develop fuel-efficient hybrid cars that run on a combination of gasoline and electricity.
Hyundai officials said the introduction of hybrid cars should come around 2007 or earlier. Kia Motors Corp., the nation's No. 2 carmaker, is also sharing hybrid research and technology facilities with Hyundai Motor.
Hyundai plans to give about 50 hybrid Click minicars to the government for test-driving by the end of this year.
The Hyundai hybrid project is quickly gaining momentum with the latest national campaign to tackle rising Korean oil prices. In fact, the Korean government announced that it would offer tax breaks on hybrid vehicles beginning in 2008. South Korea will also require that state agencies buy the more efficient cars.
Hyundai is considering introducing several hybrid models. The hybrids are expected to be priced at about $4000 more than gasoline cars.
Hybrids are already sold in countries such as the United States and Japan. Three global carmakers, Toyoda, Honda and Ford have models in production. The hi-tech cars are already gaining huge popularity in some markets. For example In the U.S., the wait for Toyoda's hybrid Prius is over six months.
Moreover, Hyundai in April 2004 joined the U.S. government's project to test hydrogen-fueled vehicles in the country.
Hyundia will demonstrate the fuel-cell version of its Tucson sport utility vehicle in Korea this November.
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