Hyundai is gearing up to launch a next-generation model of its hydrogen fuel cell electric vehicle (FCEV) NEXO crossover, set to hit the market in the second quarter of 2025. The move is aimed at solidifying the company’s position in the global eco-friendly vehicle segment.
According to sources within Hyundai, the new version of the NEXO will feature several upgrades from the current model, including a larger fuel tank and improved specifications such as an advanced driver assistance system (ADAS) and over-the-air (OTA) software upgrades for suspension and braking systems. The company is currently in the final stages of testing the related technology after completing the development phase.
“We opened an event to listen to customersā opinions on potential changes in the powertrain, infotainment, and appearance from the existing model,” stated a Hyundai Motor official.
The global sales of the NEXO dipped to 4,709 units last year from 11,179 units in 2022, according to market tracker SNE Research. Despite this decline, Hyundai Motor remains the top player in the FCEV market, with a market share of 34.7% in 2023, down from 54.8% in 2022. Hyundai’s Japanese rival Toyota Motor Corp. saw an increase in its market share to 26.6% from 17.9%, mainly due to strong sales of the Mirai sedan.
