The spot is for the Hyundai ix35 with 100% water emissions.
As Adland points out, this "clean emissions" failed suicide idea has been done before, back in 2002 by Citroen — who at least did it with some humor. See that spot here.
I've emailed the agency to get confirmation that this is a client-approved ad.
Ad agency: INNOCEAN Europe, Frankfurt, Germany.
UPDATE (April 25th): Hyundai now says the ad "wasn't meant to go out."