Hyundai investing $3.3 billion in green technologies by 2013
Hyundai Avante LPI Hybrid - Click for high-res image gallery
Korean automaker Hyundai knows how it can meet South Korea's upcoming new emissions and fuel efficiency legislation: by spending $3.3 billion between now and 2013. About $1.8 billion of that figure will be dedicated to the development of hybrid vehicles, another $1.1 billion to improve overall engine efficiency, and the remainder will be used on energy facilities to cut emissions. Hyundai joins other local companies in meeting the government's standards. Samsung, for example, announced $4.3 billion for investing in green technologies. The South Korean government announced early this month that the country will spend two percent of its annual gross domestic product in the environmental sector.
[Source: Reuters]
Reader Comments (Page 1 of 1)
ronEbear 10:48AM (7/24/2009)
Now if North Korea co-operated with the rest of the world they could be just as prosperous.
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falbhan 11:32AM (7/24/2009)
Not sure why, but Autoblog Green no longer updates my RSS feed. Instead all I get under the the ABG feed is Autoblog. Me thinks somebody broke something.
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Ray 12:51PM (7/24/2009)
Yes more reaserch on how to make ICE more efficiant. Hyundia must spend much money on that instead of electric. More of the same no changes here.
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RAN 4:55PM (7/24/2009)
Hmm.. no mention of squandering any money on hydrogen FC's, but they will squander it on milking a few more MPG out of their ICEs. Yaaaaaaawwwwwwwnnnnnnnn.
It's interesting to watch which car companies seem to "get it" and which ones don't. It will be interesting to take another look in 10 years and see who was right.
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ConceptVBS 3:04AM (7/25/2009)
Hyundai already has an FCEV program going. They've been R&D it since 2000. Matter of fact the latest demonstration model was its corporate cousin, Kia with its Borrego FCEV demonstration vehicle. They've publically stated that they will lease out a FCEV vehicles by the year 2015.