Why Asia's biggest economies are backing hydrogen fuel cell cars
TOKYO (Reuters) - China, Japan and South Korea have set ambitious targets to put millions of hydrogen-powered vehicles on their roads by the end of the next decade at a cost of billions of dollars.
But to date, hydrogen fuel cell vehicles (FCVs) have been upstaged by electric vehicles, which are increasingly becoming a mainstream option due to the success of Tesla Inc’s (TSLA.O) luxury cars as well as sales and production quotas set by China.
Critics argue FCVs may never amount to more than a niche technology. But proponents counter hydrogen is the cleanest energy source for autos available and that with time and more refueling infrastructure, it will gain acceptance.
AMBITIOUS TARGETS
China, far and away the world’s biggest auto market with some 28 million vehicles sold annually, is aiming for more than 1 million FCVs in service by 2030. That compares with just 1,500 or so now, most of which are buses.
Read more: https://www.reuters.com/article/us-autos-hydrogen-explainer/explainer-why-asias-biggest-economies-are-backing-hydrogen-fuel-cell-cars-idUSKBN1W936K
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