"Kim
Min-jin, Senior Vice President
of Hyundai, said that hybrid
cars will become a market
standard after 2010 and that
financial support from the
government is desperately
needed for Korean automakers
to commercialize their
vehicles in time."
Currently, Kim claims that Korean automakers are 10 years behind Japanese automakers in hybrid development, and that without government subsidies, Korean automakers can't compete because of high import costs for hybrid batteries, etc.
By 2010, however, Hyundai believes those high costs will finally start to materialize into profits as increased production reduces costs and increases performance of hybrid batteries, etc. Consequently, just after 2008, Hyundai believes it can "launch a new vehicle that is superior to Japanese cars in both price and performance."
Currently, Kim claims that Korean automakers are 10 years behind Japanese automakers in hybrid development, and that without government subsidies, Korean automakers can't compete because of high import costs for hybrid batteries, etc.
By 2010, however, Hyundai believes those high costs will finally start to materialize into profits as increased production reduces costs and increases performance of hybrid batteries, etc. Consequently, just after 2008, Hyundai believes it can "launch a new vehicle that is superior to Japanese cars in both price and performance."
