HYUNDAI plans to introduce an Elantra LPG (liquid petroleum gas) hybrid sedan in 2009 followed by a gasoline hybrid version by 2010, The report claims that the Elantra(AVANTEIN KOREA) LPG model will be the first South Korean hybrid car.
The Elantra LPG hybrid will combine an engine capable of running on LPG with an electric motor. Hyundai claims that the car will use only 30% of the fuel consumed by the existing model and will have a fuel efficiency of 19-20km/l. Moreover, LPG costs half the price of gasoline in the local market, the OEM said.
The report also claims that Hyundai will suspend production of the hybrid versions of the Verna and the Pride, test models of which are currently being used by the government.
Hyundai will begin commercial production of the Elantra hybrid in 2009, gradually increasing production to 20,000 units by 2010, 100,000 by 2012 and 300,000 by 2015.
Hyundai plans to release the LPG hybrid before a gasoline hybrid due to the LPG distribution infrastructure already being in place in South Korea and to benefit from government incentives.
The report claims that the subsidies will reduce the price of a Honda Civic Hybrid from Won 33.9m (US$36,534) to less than Won 30m (US$32,331).
Currently, the Lexus RX 400h and the Honda Civic Hybrid are the only hybrid cars available in South Korea.