Hyundai Begins Sales of NEXO Fuel Cell Electric Vehicle

  • Public sales of NEXO celebrated with delivery ceremonies in Ulsan and Gwangju
  • NEXO priced at 68,900,000 KRW and 72,200,000 KRW each for Modern and Premium trims, which could be as low as 33,900,000 KRW with government subsidies
  • 1,061 NEXO pre-orders demonstrate strong public interest

- Hyundai Motor Company began sales of its NEXO fuel cell electric vehicle today in Korea following very successful pre-orders.

Prior to retail sales commencing, the NEXO had been met with wide public interest, with a total of 1,061 vehicles being ordered throughout the pre-order period between March 19-26, 2018. Just on the first day of pre-order availability, NEXO recorded order of 733 vehicles.

We are witnessing a historic day as fuel cell technology is being commercialized in large quantities. With this positive beginning, we will continue our efforts in overseas markets to support fostering the newly developing fuel cell vehicle market.

Byung Kwon RhimExecutive Vice President of Hyundai Motor Company in charge of Global Operations Division

On the same day, Hyundai delivered the vehicles to both local governments of the city of Ulsan and Gwangju in Korea. The ceremony in Ulsan took place at the hydrogen house, created through joint efforts from Hyundai and Ulsan city, while in Gwangju the ceremony took place at the newly built DongGok hydrogen multi energy station. Both local governments expressed their intention to expand hydrogen refueling infrastructure.

Hyundai Motor also introduced new measures to encourage the further spread of fuel cell electric vehicles.

The pricing of the fuel cell electric vehicle is set at 68,900,000 KRW for the Modern trim and 72,200,000 KRW for the Premium trim in Korea. The Government subsidy could reach a maximum of 35,000,000 KRW, with a central government’s subsidy for fuel cell electric vehicle of 22,500,000 KRW and a regional government’s subsidy ranging from 10,000,000~12,500,000 KRW. The final purchase price could be as low as 33,900,000 KRW for the Modern trim and 37,200,000 KRW for the Premium trim.

Pricing of NEXO for overseas market will be disclosed at later date close to their market launches.