With China’s EV sector at top speed, Beijing eyes ‘economical’ hydrogen-power vehicles amid green energy transition.
Following the meteoric rise of China’s electric vehicle sector, Beijing is betting on hydrogen-powered vehicles as it eyes the possibility of becoming a global leader for the new clean energy source.
Policymakers from central and local authorities have released a variety of incentives and attempted to create new business applications by leveraging China’s massive domestic market.
The southwest province of Sichuan said this week that it was considering scrapping highway tolls for hydrogen-powered vehicles, while also considering lifting restrictions on intracity access for hydrogen-powered trucks.
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It also plans to build hydrogen refuelling stations, while also providing subsidies based on the standard of the charging stations.
A month earlier, the eastern Shandong province waived tolls for hydrogen-powered vehicles on its highways for the next two years.
Last week, China also conducted its first long-distance test of two hydrogen-powered heavy trucks, travelling from Beijing to Shanghai over two days.
The operation covered 1,500km (932 miles), crossed six provinces and cities and refuelled at seven hydrogen filling stations, the China Petroleum and Chemical Corporation, also known as Sinopec, said on Wednesday.
“[Sichuan’s move] will make the use of hydrogen-powered vehicles an economical choice [compared to diesel-fuelled trucks],” said Pang Junwen, an analyst with Guotai Junan Securities.
Hydrogen is a carbon-neutral energy source that offers the benefits of rapid refuelling, making it suitable for large commercial vehicles.
Pang estimated sales of fuel cell vehicles – which use hydrogen as fuel – in China would surpass 10,000 units in 2024 after sales last year rose by 72 per cent year on year to 5,800.
China has already become a major producer of electric vehicles, lithium batteries and solar cells, and Beijing sees hydrogen energy as a new avenue for cultivating emerging technologies and industries.
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With China’s EV sector at top speed, Beijing eyes ‘economical’ hydrogen-power vehicles amid green energy transition. source
