Hyundai Motor¡¯s hybrid research team chief has requested the government to give subsidies to manufacturers and buyers of the fuel-saving vehicles, because Korean companies are believed to be about 10 years behind Japanese makers.
Kim Min-jin, senior vice president of Hyundai, said that the hybrid cars will become a market standard after 2010 and financial support from the government is desperately needed for Korean automakers to commercialize the vehicles in time.
``We cannot make a profit in hybrid cars because imported parts, such as batteries, are too expensive,¡¯¡¯ Kim said in an e-mail interview with The Korea Times. ``Cost is the largest obstacle to their commercialization.¡¯¡¯
Hybrid cars have better fuel efficiency than ordinary cars as they roll on an electric motor at low speed. The battery is charged by the car¡¯s kinetic energy.
According to Kim, mid-sized hybrid sedans cost $3,000 to $4,000 more than standard cars. But Korean makers are unable to meet the price range since the government does not provide subsidies to either the carmakers or consumers.
The Japanese government supports about a half of the additional cost in manufacturing hybrid cars, Kim said. In the United States, the federal government offers buyers up to a $3,400 tax deduction on a hybrid.
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