Hyundai has unveiled a long-awaited update to its Nexo hydrogen fuel-cell electric vehicle (FCEV) — one of only two in serial production, alongside the Toyota Mirai — but prior speculation about a redesign and longer range appear to have been wide of the mark.

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While the second-generation Mirai, released last year, draw plaudits from commentators for its increased power and range, and sleek design, the “2024 Nexo” is still the same car as the original model released in 2018 — but now with fewer trim options.

Hyundai says that 97% of those buying the Nexo had opted for a premium trim — featuring extra USB ports and the company’s unique “After Blow” dehumidifying technology — and so from now on it will only offer that option, declaring that the 2024 model “has improved marketability by standardising customer preferences”.

So although Hyundai chairman Euisun Chung previously announced that the company planned to increase the range of the Nexo to 800km (497 miles) “in the future” — prompting speculation that the 2024 model will have be upgraded accordingly, the car’s range will actually remain at 354 miles (according to the US Environmental Protection Agency ratings).

This is comparable to the Mirai’s three models, which range from 330 to 402 miles.

Hyundai says the selling price of the 2024 Nexo in South Korea will be 69.5m won ($54,138), but that national and local government subsidies will actually lower the price to 37m won ($28,817).

The Korean government offers 22.5m won for new hydrogen passenger cars, with some cities such as Busan and Incheon offering additional subsidies of 10m won.

And while the government scheme is capped at 16,000 cars, given the low uptake of hydrogen vehicles — with only 1,914 new FCEVs registered in South Korea in the first quarter of this year — all sales of the 2024 Nexo could receive the federal subsidy.

Since 2018, Hyundai has sold 31,995 units of the Nexo in its domestic market, which represents more than 90% of the Nexo’s global sales according to local analyst SNE Research.