Hyundai Introduces Hydrogen Fuel Cell SUV

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March 4 (Bloomberg) -- Allan Rushforth, COO of Hyundai Motor Europe, discusses the auto sales recovery in Europe and introduces a new hydrogen fuel cell vehicle. He speaks on Bloomberg Television’s “The Pulse.” (Source: Bloomberg)

Being revolutionary?

It is what we call a compact crossover and it is different because it has a compact hydrogen fuel-cell and it is designed by a guy called peter who is the top designer in the world and happens to work for us.

But right.

-- right.

We have a car that uses hydrogen to make electricity and has a greater range.

In terms of what this means, this will not be mass-produced for a few years.

What is it that you are looking at and how do you make the transfer to getting this technology to the mainstream right now?

It is quicker than other manufacturers and it is 10 years away.

It is determined by the availability of infrastructure and we are building the cars for sale in europe and you can buy one of these.

In the medium term, we have efficient gasoline and diesel engines and we are looking to bridge the gap with hybrids and her pride sherrie hybrids that we will have an market between 12-18 months.

You are pushing hard to make europe a bigger part of the foot print and they are 2-3 around the world and your challenge is to get to that position in europe.

How quickly can you get to that?

There is no doubt that we can move forward and we see an opportunity with great value and low emissions.

I think europe is an opportunity and we have to hit a market share by the end of the decade.

We have five or six years of organic growth with the positions globally.

What do you make of the market right now.

There is signs of the recovery emerging.

A similar story in other parts of the world.

When does it become organic and when does this become self-sustaining?

We anticipate two percent-three percent growth and it is a reality that the european economy and the global economy is hardwired into the global car market.

It reflects the other and there is a lot of volatility in the car market and incentives.

85% of the market is at incentive levels and we have a good position to grow.

We are dependent on the health and the growth of the european economy.

One of the things that has driven the market is the contracts.

You pay off half of the car and then the half is on the next one.

That drives car sales.

Do you think that will happen and generate a similar story?

The attitude towards retail finance differences -- differs from one market to the other.

It is a question and we have financial penetration that is low end around 13% across the whole of europe.

It is negligible in our major markets and we have a joint venturer there.

The spanish bank.

I believe there is opportunity and we will be the way for consumers in the view of vehicle utilization.

Is not your thing, you look after your.

You guys are number two in russia.

With regards to the russian markets, making you nervous?

Is not my immediate area of responsibility and it is a big place.

A few months ago, the russian car market and the global car market was hardwired to the economy.

Nonetheless, we believe there is sufficient growth and it will give us continued momentum in sales growth and in the months and years to come.

I do not see it.

Launching a luxury product, it is a hard place if you're trying to compete.

What do you expect to learn and what you take away?

Is it a learning experience?

Is it a bottom line?

For us, we have a product that is engineered for the home market and we have sales volume.

We want to demonstrate the technical capability to the consumer and really use the vehicle as an opportunity to develop our business beyond positioning today to affordable premiums and not to challenge the local premium brands on their home turf.

That would not be good.

But then he have tried and few have succeeded.

This text has been automatically generated. It may not be 100% accurate.

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