Hyundai, Kia disclose blueprint for green car development

Posted on: Fri, 14 Aug 2009 02:16:00 EDT

Symbols: KIMTY

SEOUL, Aug 14, 2009 (Asia Pulse Data Source via COMTEX) --
KIMTY | Quote | Chart | News | PowerRating -- Hyundai Motor Co. and its affiliate, Kia Motors Corp., unveiled a plan Thursday to develop environmentally friendly cars in an effort to become one of the world's four largest "green car" makers.

Under the plan, Hyundai and Kia will push to produce hybrid and hydrogen fuel cell vehicles within two to three years and start selling plug-in hybrid electric vehicles in the United States in 2012.

Plug-in hybrid electric cars can be recharged from a standard home outlet.

Hyundai and Kia announced last month they will invest a total of 4.1 trillion won (US$3.28 billion) by 2013 to develop more fuel-efficient vehicles with less carbon emissions.

The two auto makers began selling hybrid versions of their Avante and Forte compact models, powered by liquefied petroleum gas, in South Korea this month.

For full details on (KIMTY) KIMTY. (KIMTY) has Short Term PowerRatings at TradingMarkets. Details on (KIMTY) Short Term PowerRatings is available at This Link.

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