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Electric cars vs hydrogen cars, which will win future market?

Electric cars vs hydrogen cars, which will win future market?

Posted May. 07, 2016 07:16,   

Updated May. 07, 2016 07:33

한국어

The Paris Agreement, which was adopted in the UN Framework Convention on Climate Change held last December, indicates that engine-driven cars including gasoline and diesel will gradually lose their position in the automobile market in future. Experts speculate that as the world will increase the level of reduction of greenhouse-gas emissions in accordance to the Paris Agreement taking effect in 2020, the green car market will drastically increase.

The two types of green cars considered to be dominating the market are electric cars and hydrogen cars. Both types have the same merit: no emissions.

The green car market today is dominated by hybrid cars because they are cheaper and more convenient to use than electric cars and hydrogen cars. Many speculate that from 2021 when emission control policies will be tightened, the automobile market will quickly turn to electric cars and hydrogen-fuel cars, which do not emit CO₂ at all.

According to KPMG, a global accounting and consulting agency, 4.6 percent of cars around the world (5.1 million cars) will use electricity in 2020. Bloomberg's New Energy Finance predicts that by 2040, electric car sales will account for 35 percent of all car sales in the world. According to the Korea Automotive Research Institute, the hybrid car sale around the world decreased, for the first time in four years, by 11.6 percent year on year (1.46 million cars).



신수정기자 crystal@donga.com