Hybrid car from Hyundai in 2005
Hyundai Motor Co. plans to introduce its first hybrid car in 2005. It would be a hybrid version of Verna sub-compact car and would be only available late next year. Hyundai would be investing around 1 trillion won to make a production line for gas-electric hybrid car by 2009. It aims to make 10,000 hybrid cars anually.
Hyundai claims that the hybrid car would reduce the fuel consumption by 15-20%. They plan to produce trial hybrid models by year end and would get response from users. Hyundai would also be increasing human resources in R&D to 10,000 from the current 6,200 people.