S Korea plans to produce 300 000 hybrid cars by 2010
December 21, 2005
Seoul - South Korea's government joined the country's major carmaker's drive to commercialise hybrid-engined cars by promising a package of research and development subsidies and tax benefits.
Hybrid cars are powered by both electricity and gasoline: when driven at low speed, they are powered by electricity, but are powered by internal combustion engines for high speeds.
The government announced Wednesday a five-year plan to develop and widely diffuse hybrid cars so the country's major automakers, Hyundai Motor Company and Kia Motors Corporation, can produce up to 300,000 units per year by 2010.
So far Hyundai Motor has supplied 250 hybrid cars to government offices since 2004. These cars are as large as gasoline-engined medium-sized passenger cars, but are are more fuel efficient at 18
kilometres per liter, as opposed to the 12.5 kilometres per liter of regular autos.
Government officials who have been driving hybrid cars from Hyundai Motor said they were happy with the performance, amenities and lower fuel costs.
The administration has paid about 36,700 U.S. dollars for each hybrid car, which is a far short of the minimum 100,000 dollars that cost to produce each unit.
Meanwhile, Hyundai Motor also said it will launch a commercial campaign to sell fuel cell-powered cars in the US by 2010. - Sapa-dpa
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