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South Korea Unveils Five-Year Plan to Develop Fuel Cell Cars

Publication Date:20-December-2005
07:00 PM US Eastern Timezone
Source:AFP

South Korea's government unveiled a five-year plan to develop and commercialize fuel cell-powered and hybrid-engined cars by 2010.

The plan to assist research and development of environment-friendly vehicles was approved at a cabinet meeting, the ministry of commerce, industry and energy said.

The government will offer tax breaks and ask state firms and public agencies to buy the new vehicles, it said.

The ministry suggested South Korea could produce more than 4,000 hybrid-engined vehicles by 2008.

In a related move, Hyundai Motor, the country's largest car maker, said it would release a fuel cell-powered version of its Tucson sports-utility vehicle from 2010.

Fuel cell-powered vehicles will make up 10 percent of the global market by 2030, according to a US government report.


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