Hyundai cuts price of fuel cell car, eyes competition with Toyota

Hyundai Motor Co said it will lower the price of its Tucson fuel cell electric vehicle by 43 percent in South Korea and consider cutting prices of the car overseas to compete with models from the likes of Toyota Motor Corp. The South Korean automaker - the world's fifth-biggest when paired with sister Kia Motors Corp - hopes to popularize fuel cell cars in its home market by cutting the price of the Tucson ix to 85 million won ($77,189). In developing more environmentally friendly technology, Hyundai has long trumpeted fuel cell electric vehicles over battery-powered alternatives, but the high price tag and a lack of refueling stations have been roadblocks to adoption. South Korea has only one hydrogen fuelling station, with another to be opened in the first half of this year and a government goal to increase the number to 200 by 2025.

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