INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Hyundai speeds up auto roll-out

  • From 2023, Hyundai's third generation of fuel cells will be half the price, much smaller and more powerful than their predecessors
  • "We aim to help foster a worldwide hydrogen society by 2040"

Hyundai is stepping up the pace of developing hydrogen technology and plans to offer engines powered by the fuel on all its vehicles from 2028, the manufacturer said on Tuesday.

The South Korean conglomerate, which has pioneered hydrogen with its Nexo SUV and the first heavy goods vehicles on European roads, is promising fuel cell autos at electric-vehicle prices from 2030.

From 2023, Hyundai’s third generation of fuel cells will be half the price, much smaller and more powerful than their predecessors, the world’s third-biggest automaker by output said in an online press conference.

“The goal is to make hydrogen readily used for everyone, everything, and everywhere,” said Hyundai President Euisun Chung.

“We aim to help foster a worldwide hydrogen society by 2040.”

The group also unveiled a sports car concept. The Vision FK, equipped with a fuel cell and an electric battery, promises an acceleration of 0-100 kilometers per hour (62 miles per hour) in less than four seconds and a range of 600 kilometers.

While most of the automotive industry is focusing on the development of battery-electric cars as a renewable energy source, Hyundai and bigger rival Toyota are backing hydrogen.