Hyundai to rival Daimler, Volvo by launching fuel cell trucks in Europe

By Nikita Chaurasia  Date: 2021-05-26

Hyundai to rival Daimler, Volvo by launching fuel cell trucks in Europe

South Korean automotive giant Hyundai Motor Company will reportedly ship all-new models of fuel-cell trucks to Europe by the fourth quarter of 2021 to test the feasibility of commercial hydrogen-powered transport.

According to reliable sources, the move will also enable Hyundai to raise the stakes in Europe’s hydrogen space and take on some leading truck manufacturers such as Daimler AG and Volvo Group.

The new range of the Hyundai Xcient truck is equipped with fuel cells that provide higher efficiency and a longer life span. Although hydrogen is more expensive and less popular than electric batteries, it is known to offer a greater range and is relatively advantageous in the long run.

It is worth mentioning that Hyundai H2 Energy, which was launched to counter climate change, has been providing hydrogen trucks on rent to commercial clients in Switzerland since last October. It is also planning to expand this venture to Netherlands and Germany by 2022.

The focus on reducing truck CO2 emissions has given rise to the popularity of hydrogen as a fuel in Europe, experts claimed. This has motivated various local companies to develop their hydrogen vehicles.

Despite their higher costs, fuel-cell electric vehicle utilization rates are slated to increase in Europe in the forthcoming years, primarily due to measures like threats of diesel bans, higher taxes on vehicles emitting CO2, and a 75% reduction on road tolls for greener vehicles.

Chief Executive of Daimler AG Martin Daum stated that a hydrogen fueling network needs to be developed across Europe for the fuel cell truck market to prosper Europe. He further stated that this could take years to happen.

In related news, Nikola Corporation as well as Iveco S.p.A are planning to launch their fuel cell electric trucks in Europe by 2023. Other automotive giants such as AB Volvo and Daimler AG truck models also intend to begin testing by June 2024.

Source Credits –

https://auto.economictimes.indiatimes.com/news/commercial-vehicle/mhcv/hyundai-raises-hydrogen-game-as-new-trucks-roll-into-europe/82903755

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Netflix confirms producing fictionalized version of Spotify’s ascension

Netflix confirms producing fictionalized version of Spotify’s ascension

By Nikita Chaurasia

Over-the-top content streaming & production giant Netflix Inc. is reportedly working on an untitled series that tells the story of one of the most successful music streaming companies, Spotify Ltd. The six-part series, already listed on Netflix,...

Edtech Byju’s is now India’s highest-valued startup at USD 16.5 billion

Edtech Byju’s is now India’s highest-valued startup at USD 16.5 billion

By Nikita Chaurasia

Byju’s, the largest education technology company, has emerged as India’s highest-valued startup after a USD 340 million funding round involving investors such as UBS Group, Blackstone, and Zoom founder Eric Yuan among others. Recently, B...

LiDAR maker Hesai Photonics secures USD 300 million in Series D funding

LiDAR maker Hesai Photonics secures USD 300 million in Series D funding

By Nikita Chaurasia

Hesai Photonics Technology Co. Ltd., a leading Shanghai-based LiDAR company, has reportedly secured USD 300 million in a Series D funding round which was led by GL Ventures LLC, Xiaomi Corporation, Hillhouse Capital Group, Meituan, and CPE. The roun...

Tesla terminates production of its Model S Plaid + variant indefinitely

Tesla terminates production of its Model S Plaid + variant indefinitely

By Nikita Chaurasia

CEO Elon Musk justified Model S Plaid as good enough against its successor. The Model S Plaid + was touted to be Tesla’s flagship vehicle, with a range of around 519 miles. After unveiling for the first time last year, American EV maker T...

ByHeart concludes largest U.S. clinical trial for infant food product

ByHeart concludes largest U.S. clinical trial for infant food product

By Nikita Chaurasia

ByHeart Inc., a New-York based infant, and baby nutrition company, has recently announced the completion of the largest clinical trial for new infant formula in the past 25 years. With this move, the company is earmarked to be the 4th FDA registered,...