Market Monitoring

South Korea aim to replace CNG fleet with Hydrogen

Mon 21 March 2016 | Back to news list

South Korean's Finance minister Yoo Il-ho announced a government plan to replace the 26,000 CNG buses currently operating in the country with hydrogen powered alternatives.

The rollout is set to be in partnership with Hyundai, the world's fifth largest automotive manufacturer and first to start assembly-line production of a hydrogen-propelled passenger car, the ix35 Fuel Cell. The huge project, which aims to introduce 2,000 Hydrogen buses a year when initiated, has been a result of the industries request to deregulate the hydrogen market in South Korea.

The Government will support the rollout of hydrogen refuelling stations at existing petrol/CNG stations and help businesses seeking to develop hydrogen equipment fundamental accessories.

"The distribution of hydrogen electric buses will contribute to the growth of other related industries too as they need more than twice as many parts as other hydrogen electric cars like sedans and SUVs," Hyundai Motor president Chung Jin-haeng said.

This announcement follows increasing support for hyrdogen in the country, with the government offering over a £16,000 grant for purchases of hydrogen cars.

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