This interest was highlighted by Wan Gang, the Chinese father of electric vehicles, who started talking about hydrogen vehicles,
In China, there may soon be a renewed interest in a new type of renewable vehicle, the hydrogen one. Returning interest to this type of vehicle was Wan Gang, the “father of the electric vehicle movement in China”, who said he was excited about the promise of another renewable hydrogen vehicle.
These considerations immediately alerted market analysts, who now say it is a good time for investors to start thinking about this emerging sector.
In hydrogen-powered cars the hydrogen gas stored in a vehicle is converted by fuel cells into electricity
Toliver Ma, an automatic analyst at the securities company Guotai Junan Securities in Hong Kong, said: “In China, there are many companies that put resources to focus on this sector. There are still technological hurdles to overcome to reduce usage. It will take time ”
Globally, hydrogen cars are gaining momentum. The Japanese Toyota and Honda and the Hyundai of South Korea are leaders, with hydrogen models. Amazon is among the US companies that use fuel cell forklifts, and many US states are experimenting with hydrogen-powered buses. And in China, home of the largest automotive market in the world, companies are also jumping to develop cars and buses, which often have to travel long distances and build fuel stations.
Wan has intensified his visibility on hydrogen vehicles. Last month, he made a rare interview with Bloomberg
In China, many are starting to be interested in hydrogen. Great Wall Motor, for example, is concentrating the energy of hydrogen and fuel cell vehicles, investing over 1 billion yuan ($ 149 million) in research and development. FAW, the country’s oldest automaker, announced plans earlier this year to mass-produce fuel-cell cars as part of its Hongqi luxury brand.
On the other hand, Chinese vehicle manufacturer BYD, which is supported by Warren Buffett, has teamed up with the US Hybrid to produce shuttle buses in the island state of Hawaii, which aims to be fully powered by renewable energy by 2045.
Last week, Wan Gang organized the 2019 World New Energy Congress, held on the southern island of Hainan, China, as conference chairman. At the event, the leaders of BYD, SAIC Motor, First Automobile Work Group (FAW) and Beijing Automotive Group (BAIC) all spoke and promised their support for hydrogen. China has 15 hydrogen filling stations and 20 are under construction, Wan told the conference.
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