Hyundai urges tax breaks for hybrid cars

South Korea’s Hyundai Motor suggested that Beijing should introduce substantial tax concessions as a way to encourage consumers to buy low-emission vehicles. “Hyundai’s hybrid vehicles will be ready by 2010 and we’ll start selling the product in the North American market because places like the United States and Japan give tax benefits for hybrids,” said Senior Executive Vice-President Yang Woong-chul. “We’ll look for [a faster introduction] in China if there is any support from the central government.” Hyundai will first launch its Elantra hybrid in Korea in July 2009. (November 26, 2008)