Hyundai has today debuted its first electric vehicle (EV) in a bid to gain ground on Japanese and US rivals in the multibillion-dollar race to develop a mainstream low-carbon car. 

South Korean president Lee Myung-Bak unveiled the new car, dubbed BlueOn EV, by driving it at the presidential house in Seoul earlier today. 

Hyundai said the battery-powered car will be able to travel 140km on a single charge, giving it an edge over Nissans high-profile Leaf electric car, which is expected to boast a range of about 100km. However, the BlueOn EVs maximum speed of 130km/h (81mph) will lag behind the Leafs stated top speed of 90mph. 

The car, which is based on Hyundais existing i10 hatchback, has not yet been given a price, although like most electric cars it is expected to be significantly more expensive than similar, conventional models. 

The car will also feature a virtual sound system to alert pedestrians and other road users to its presence. 

According to Reuters, Hyundai will produce and supply a small number of EVs to the government this year and next, before the vehicles full launch in 2012 when it plans to manufacture 2,500 units for general sale. 

Hyundai Motor Group last year pledged to invest 4.1 trillion won ($3.2bn at the time) to make the company one of the worlds four largest manufacturers of green cars. According to reports is has already invested about 40 billion won ($34m) over the past year to develop the BlueOn and has a host of other green developments in the pipeline. 

However, the firm is in danger of lagging behind international rivals such as Honda, Toyota, Nissan and GE, which are already in the process of rolling out electric and plug-in hybrid models. 

The launch came as the South Korean government today announced an ambitious target to replace 20 per cent of passenger cars with EVs by the end of the decade as it seeks to establish the country as one of the worlds top green motoring hubs.

 

source: APEC-VC Korea