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Car of the Future

[Anchor Lead] The Korean government and private automakers have decided to join hands to increase the supply of hydrogen fuel cell vehicles, which are touted as eco-friendly cars of the future. Here’s more. [Pkg] This is the world's first successfully mass-produced hydrogen-powered electric car, which rolled out in 2013. It is powered by the electricity generated when hydrogen, instead of fuel, reacts with the oxygen in the air. It can travel up to 415 kilometers on a single charge. When the car is driven, it discharges water instead of pollutants. It also filters out fine dust, which is why it has been called "the ultimate eco-friendly car." However, the car costs nearly 76,000 U.S. dollars, and only 70 such vehicles have been sold as recharging infrastructure is virtually non-existent. The government has declared that 24,000 hydrogen vehicles will be made available for both domestic and export markets, and 100 charging stations will be set up by 2020. The government and the auto industry have joined hands to develop and distribute hydrogen-powered cars in earnest. First, necessary infrastructure will be built as soon as possible by easing regulations on hydrogen recharging stations. Hydrogen cars will be able to recharge at existing natural gas and LPG stations to dramatically lower construction costs. Incentives will also be expanded so that in addition to local governments or public agencies, individuals will be eligible for purchase subsidies. [Soundbite] Joo Hyung-hwan(Minister of Trade, Industry and Energy) : "Tax system reforms reflect cuts in individual consumption tax and acquisition tax. Operation incentives will be equal to those given to electric vehicles." The global hydrogen vehicle market is expected to grow to 2.4 million cars, more than 300 times its current size, by 2030.