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Hyundai Collects 700-Plus Preorders for Nexo Fuel-Cell Car

Hyundai Motor Co. says it received 733 reservations for its Nexo fuel cell-powered SUV/crossover on the first day of preordering in South Korea.

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Hyundai Motor Co. says it received 733 reservations for its Nexo fuel cell-powered SUV/crossover on Monday, the first day of preordering in South Korea.

The Korean government has set aside subsidies worth 22.5 million won ($21,000) for each of the car’s first 240 buyers. Local jurisdictions are contributing as much as 12.5 million won ($11,700) in additional support, according to The Korea Herald.
 

The incentives reduce the purchase price of a Nexo in Korea to roughly 35 million won ($32,700). That price is about the same as that of Hyundai’s conventionally powered Santa Fe SUV.

Hyundai unveiled the Neo in January at the CES electronics show in Las Vegas. The car also will be sold in the U.S. and a few other markets.

The Nexo succeeds Hyundai’s first-generation fuel cell vehicle, the Tucson FCEV crossover vehicle introduced five years ago. The new model is larger, lighter and more powerful. The SUV also can travel about 600 km (370 miles) per fill-up of hydrogen fuel—about 25% farther than the Tucson FCEV.

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