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Korea Targets Dramatic Jump in Sales of Fuel Cell Cars by 2030
South Korea’s government is preparing a plan that would multiply the number fuel cell-powered cars on its roads from 50 today to 9,000 in 2020 and 630,000 by 2030.
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South Korea’s government is preparing a plan that would multiply the number of fuel cell-powered cars on its roads from 50 today to 9,000 in 2020 and 630,000 by 2030.
The targets are part of a government plan to lower carbon emissions from vehicles 11% in five years, The Wall Street Journal reports.
Korea’s trade ministry says the government also aims to hike the proportion of new cars sold with hybrid or electric powertrains to 20% by 2020. Only 2% of current sales in the country are of cars with either type of propulsion system.
Fuel cell systems, which generate electricity by combining hydrogen and oxygen, offer driving ranges similar to vehicles that use gasoline. But the shortage of fueling stations and the high price of the vehicles themselves have limited demand for the technology.
The Journal says the government plan would increase the number of hydrogen filling stations in Korea to 520 by 2030 from 10 today. In the meantime, the plan will offer fuel-cell car buyers subsidies of 27.5 million won ($23,200), equal to roughly one-third of the purchase price of the vehicle.
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