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Hyundai Motors Emerges No. 1 At The Global Hydrogen Car Market, Intensifies Competition With Toyota In 2021

by Tyler Khoo / Dec 14, 2020 04:27 AM EST
Hyundai cars (Justin Sullivan/Getty Images)

The Hyundai Motor Company, a renowned multinational automotive manufacturer headquartered in South Korea, has emerged on top of the global hydrogen car sales, beating competitors like Japan-based Toyota. 

Hyundai Motors topped the worldwide hydrogen car sales in the first nine months of 2020, with demand rising for the Nexo model.

According to data from SNE Research, a local market research firm, in the first nine months of this year, Hyundai Motors was able to sell a total of 4,917 hydrogen fuel cell electric cars, accounting for 74 percent of the worldwide hydrogen automobile market. 

Toyota Motor Corporation and Honda Motor Company, both headquartered in Japan, emerged in second and third, EN24 reported. Toyota recorded a share of 11.5 percent of 767 cars, while Honda recorded a 2.8 percent share or 187 units. 

It was in March 2018 when Hyundai started selling Nexo hydrogen units in the local market, then taking the leadership position in hydrogen mobility innovation. 

The company aims to offer 10,100 Nexos in Korea for the rest of the year, mainly focusing on offering these to companies and public organizations and doubling the figures from 4,194 units sold the previous year. 

From January to November, the South Korean car manufacturer sold 5,453 Nexos in domestic sales, reaching their 54 percent annual target. Subsequently, they also shipped 6,318 Nexos in the same period. 

Aside from hydrogen passenger vehicles, Hyundai also revealed its plans to develop more hydrogen commercial cars, like trucks and buses, to maintain its reputation in the industry of hydrogen vehicles. 

Moreover, the company also targets to build a production facility with the capability of rolling out 50,000 vehicles powered with hydrogen by 2030. This includes the aim to export hydrogen trucks and buses, leading the way for further shipments of eco-friendly cars. Eco-friendly cars or electric vehicles are automobiles for sustainable driving that do not use conventional cars' engines.

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