Competition heating up for hydrogen vehicles
Posted : 2021-01-28 17:50
By Kim Bo-eun
The market for hydrogen-powered vehicles is gaining momentum amid global interest in the fuel as a means of meeting carbon targets.
Major economies have announced plans to achieve carbon neutrality by 2050 and have unveiled national roadmaps for building a hydrogen economy. These efforts are placing an increased focus on eco-friendly vehicles such as electric vehicles (EVs) and hydrogen fuel cell electric vehicles (FCEVs).
The market for FCEVs remains a niche segment of the global car market but is seeing growth. According to energy market tracker SNE Research, 2,594 hydrogen-powered vehicles were sold worldwide in the third quarter of 2020, up 27.3 percent from the same quarter of 2019.