The world's first hydrogen mobility show got under way on Wednesday (1 July) in South Korea, with the country vying to become a global leader in hydrogen transportation solutions.
The Korea Automobile Manufacturers Association, the organiser, said 100 companies and research institutions from 11 countries took part in the H2 Mobility+Energy Show which is held in the Islan exhibition centre in the north of the capital city Seoul.
The exhibition is seeking to promote hydrogen as a key transportation fuel of the future and brings together companies, support industries and government departments to create new business opportunities. The first South Korean government-led hydrogen economy committee meeting was held on the sidelines of the show.
Prime minister Chung Sye-kyun said in the opening ceremony his government would provide additional subsidies to promote domestic sales of hydrogen fuel cell electric vehicles and hydrogen related businesses.
The country is looking to reduce its dependence on conventional fossil fuel vehicles and already provides incentives for zero emission vehicle sales and grants to research institutions.
The government has already made available KRW2.2trn (US$1.9bn) in grants through to 2030 to local companies developing zero emission and autonomous vehicle technologies to encourage investments of KRW60 trillion in the sector.
Hyundai Motor Group has pledged to invest KRW41 trillion in these segments and aims to produce 500,000 hydrogen fuel cell vehicles per year by 2030.
At the show it displayed the Nexo hydrogen fuel cell vehicle and the Neptune hydrogen powered truck concept that it had previously unveiled at the North American Commercial Vehicle Show in Atlanta last November.