SEOUL: Hyundai Motor Co has unveiled a new hydrogen-powered vehicle called Initium yesterday, which it aims to release in the first half of next year as part of its broader push into the clean-burning gas.

According to a statement, the vehicle has a target driving range of over 650km on a single refuelling, compared with 609km for the Nexo, the South Korean carmaker’s first hydrogen-based sports utility vehicle.

The vehicle can also be connected to a household’s electricity supply to act as a backup source of power, the company said.

While hydrogen cars have failed to gain traction – the production of the gas using renewable energy sources isn’t yet commercially viable on a large scale and it is difficult to transport, store and dispense – Hyundai is pushing heavily into the carbon-free alternative fuel.

It has pledged to invest some US$4bil over the next decade to build a future around hydrogen to meet its net-zero target by 2045, and become carbon neutral across all stages of production and operation.

From January through September, hydrogen car sales accounted for less than 0.5% of Hyundai’s total domestic deliveries, or around 2,400 units. 

 - Bloomberg