Japanese & South Korean Automakers to Commercialize Fuel Cell Electric Vehicles by 2015, Says Frost & Sullivan

Japanese & South Korean Automakers to Commercialize Fuel Cell Electric Vehicles by 2015, Says Frost & Sullivan PR Newswire SEOUL, South Korea, Dec 6, 2012 SEOUL, South Korea, Dec 6, 2012 /PRNewswire/ -- Both Japanese and South Korean automakers are optimistic about commercializing fuel cell electric vehicles by 2015, says Frost & Sullivan. Mr. Vijayendra Rao, Research Manager at Frost & Sullivan Automotive & Transportation Practice, Asia Pacific said that in 2011, the market for fuel cell electric vehicles in Japan and South Korea is limited to concept cars or fuel cell electric vehicles leased to fleets in urban areas. "The OEMs are prepared for a 2015 commercialization of the FCEV market. Key Japanese auto OEMs such as Honda, Toyota and Nissan and South Korea's Hyundai//Kia are preparing their FCEV models for commercialization," he added. Mr. Rao also said that cities in Japan such as Tokyo, Osaka, Nagoya, and Fukuoka and Seoul and Ulsan in South Korea are targeted by OEMs for commercialization of fuel cell vehicles. New analysis from Frost & Sullivan (http://www.automotive.frost.com) CEO's 360 Degree Analysis of Fuel Cell Electric Vehicle Market in Japan and South Korea finds that fuel cell electric vehicles in Japan and South Korea are expected to increase to 58,100 units in 2020 from 600 units in 2011. Mr. Rao said that the Japanese and South Korean Governments play a key supporting role in commercialization of FCEVs.