Motor1.com website reports, “According to (Korean website) The Chosun Ilbo, plans to pursue a third-generation fuel cell stack have been abruptly halted.”

“If true, the decision comes as a surprise since the company’s Hydrogen Vision 2040 was presented just a few months ago. It is believed a recent internal audit revealed the South Korean brand is unable to meet the original target in terms of production cost reductions. Apparently, the Genesis hydrogen car had been in development for over a year and was supposed to come to fruition in 2025.”

“It should be noted The Chosun Ilbo specifies Hyundai has not completely abandoned the project, but the situation is not looking great either. Aside from running into technical issues, other roadblocks are represented by the lack of marketability and the underdeveloped charging infrastructure. Sources close to the matter cited by the Korean daily newspaper claim the decision was taken last month after an in-house revision of the project. The fuel cell division has already been reorganized and the R&D team is now “greatly reduced.””

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