Federal government supports leasing program for 800 Hyundai Nexo - electrive.com

Allane Mobility Group (formerly Sixt Leasing SE) has received a funding commitment of up to 11.4 million euros from the Federal Ministry of Transport for the marketing of up to 800 new Hyundai Nexo to leasing customers as part of a cooperation with Hyundai.

++ This post has been updated. You can find the new information at the bottom. ++

It is the highest amount of funding that has ever been awarded to an individual project in connection with the market activation for fuel cell cars as part of the National Innovation Program for Hydrogen and Fuel Cell Technology (NIP), which the state-owned NOW GmbH reports.

According to the announcement, Allane will use the funding to "market up to 800 Nexo vehicles to leasing customers at particularly attractive conditions" as part of a sales cooperation with Hyundai. Accordingly, the subsidy is 14,299 euros per vehicle, the leasing rate starts at 718.50 euros per month. The vehicles are fully equipped vehicles available at short notice with the popular Prime package. The color, running time and mileage are configurable.

The leasing rate mentioned is based on a term of 48 months and a mileage of 10,000 kilometers per year. With shorter terms or higher mileage, the leasing rate will be higher. The Nexo can be ordered through Hyundai Motor Germany's regular dealer network. Allane SE acts as the lessor.

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"We are pleased that the federal government is supporting our ambitions in terms of sustainable mobility with such a large sum," says Donglim Shin, CEO of Allane SE. NOW Managing Director Kurt-Christoph von Knobelsdorff adds: “There are several ways to climate neutrality in the transport sector. When a company like the Allane Mobility Group markets up to 800 Hyundai Nexo units, it sends a strong signal to the market and shows that the fuel cell also has a future in mobility for cars.”

The Hyundai Nexo has been on the market since 2018. The FCEV SUV has an electric motor with an output of 120 kW and, with its hydrogen tanks, has a WLTP range of 666 kilometers. In September 2021, Hyundai announced that it had sold over 1,000 units in Europe. In Germany, the Nexo costs at least 69,327 euros.

Update 01/28/2022: As it turns out, the deal has at least one taste: Allane is a 92 percent subsidiary of Hyundai Capital Bank Europe, which took over the majority of the shares from Sixt in 2020. "To put it bluntly, one could say that Hyundai sells its own cars with state subsidies," the "WirtschaftsWoche" quotes an Allane competitor as saying.

Confronted with this, NOW boss von Knobelsdorff told the magazine that the criteria for funding under the NIP program were "the same for all applicants." Allane was neither preferred nor disadvantaged in the approval process due to her affiliation with Hyundai. Overall, according to von Knobelsdroff to "Wiwo", 2164 applications for fuel cell cars were approved in the relevant funding call, even if "the 800 for Allane were by far the largest single application to date". now-gmbh.de, wiwo .de (Update)