Hyundai Motor Company has made a notable entry into New Zealand's eco-friendly commercial vehicle market by securing government subsidies for its innovative electric and hydrogen trucks. This development marks a strategic expansion in Oceania, reinforcing Hyundai's commitment to green transportation solutions.

The New Zealand government is offering a subsidy that covers up to 25% of the price of new eco-friendly trucks. Under this initiative, Hyundai’s mid-sized electric truck, the Mighty Electric, is eligible for a subsidy of up to NZ$35,000 (KRW 29.3 million), while the larger Xcient Fuel Cell hydrogen truck can receive up to NZ$200,000 (KRW 167.7 million). This financial support is expected to boost the sales of Hyundai's commercial vehicles in the local market.

Hyundai introduced the Mighty Electric truck to Australia and New Zealand last year, marking its first export of mid-size or larger electric trucks to major markets outside Korea, including Oceania. The Mighty Electric features CATL batteries, right-hand drive to accommodate local regulations, a range of about 240 km on a single charge, and advanced driver assistance systems (ADAS).

In addition, Hyundai began the introduction of its Xcient Fuel Cell vehicles to New Zealand in 2022, making it the third country after Korea and Switzerland to feature this large hydrogen-powered truck. Initially, five Xcient Fuel Cell trucks were exported for use in parcel delivery, undergoing test runs to demonstrate their efficacy. The Xcient Fuel Cell, the world’s first mass-produced large hydrogen truck, is equipped with dual 90kW hydrogen fuel cell stacks, allowing it to travel up to 400 km per charge.

Looking forward, Hyundai is actively involved in initiatives to enhance hydrogen infrastructure in line with Oceania’s carbon-neutral policy. Both Australia and New Zealand have set ambitious targets to reduce greenhouse gas emissions by 40-50% of 2005 levels by 2030, with aims to achieve carbon neutrality by 2050.

Hyundai's collaboration extends beyond vehicle manufacturing; last November, the company signed a memorandum of understanding (MOU) with Toyota and local companies Ampol and Pacific Energy in Australia to develop a hydrogen refueling network. The New Zealand government also has plans to increase the number of hydrogen fuel stations to 100 by 2030, seeing the introduction of Hyundai’s Xcient Fuel Cell trucks as a pivotal opportunity to advance its green energy goals.

NTU Singapore, PSA, and Chiyoda Corporation Test Hydrogen Transport and Storage at Pasir Panjang Terminal