The hydrogen vehicle segment is rapidly developing as there is a strong potential underpinned by international efforts towards a greener vehicle. Key developments include:
BMW’s Relationship with Hydrogen Cars
BMW makes its first move into mass-produced hydrogen-powered cars by 2028. The German automaker has already assessed prototypes of the iX5 Hydrogen SUV and expects demand will grow for hydrogen fuel cell vehicles, especially for heavy-duty and long-distance use. This is a joint venture with Toyota, a long-time backer of hydrogen tech.
The Post-Hydrogen Era: Will Fuel Cells Leave Us High and Dry?
In addition to its electric vehicle (EV) lineup, Hyundai is also still investing in the adoption of hydrogen-fuel cells. By 2030, the company intends to have 21 distinct EV models available and plans to sell 2 million units a year. Hyundai's hydrogen ambition complements its broader strategy to improve efficiency and sustainability of hydrogen vehicle.
Hydrogen Startup Ecosystem Challenges
Hydrogen vehicle startups have had headaches — as seen with the adoption of Hydrogen Vehicle Systems (HVS) — with seeking to focus on hydrogen vehicles. HVS, which is edging toward insolvency, cost EG Group, co-owned by the Issa brothers, a $33 million loss on its investment. HVS, headquartered in Glasgow, which had been producing hydrogen-powered heavy-goods vehicles, is now desperately seeking funding to stay afloat.