The launch of the next generation Hyundai Nexo was delayed until 2024, due to problems with the development of its hydrogen fuel cell engine.
According to the Seoul Economic Daily, Hyundai initially plans to start sales and production of the second-generation Nexo in the second half of 2023.
While it’s not known exactly what problems Hyundai is facing with fuel cell development, some analysts are suggesting the automaker to reevaluate its hydrogen fuel cell business.
Soo-hong, analyst at NH Investment & Securities Co. said, “With the growth of the global EV market, it is likely that Hyundai can reassess its priority list as demand for electric cars continues to grow, while the hydrogen car market is still relatively small.”
In September 2021, Hyundai said it would offer hydrogen fuel cell versions of all its commercial vehicles by 2028. The South Korean manufacturer also said it would develop hydrogen vehicles for the Kia and Genesis, both of which could launch after 2025.
The Seoul Economy Daily added that the scheduled launch of hydrogen vehicles at Genesis has not yet been finalized, following the decision to suspend development of the luxury brand’s first fuel cell model at the end of 2021.
This report comes shortly after Hyundai released the first photos of the new Ioniq 6 model. The electric sedan, which will rival the Tesla Model 3, could pull buyers away from the hydrogen model Hyundai is developing, given the growing growth of the electric car market.
Technical specifications have not been announced for the car, but it will reportedly use the same E-GMP platform as the Hyundai Ioniq 5, Kia EV6, and Genesis GV60.
