What is more, China’s plans to boost green hydrogen production are also supportive of FCEV penetration. Green hydrogen production capacity additions in China comprise 36 per cent of all planned projects globally. These additions support the roll-out of infrastructure such as hydrogen refuelling stations (HRS) that are needed to make FCEVs a viable consumer option.
China has taken an ambitious stance on HRS growth when compared to other countries, targeting 1,000 HRS by 2030 - an objective that is likely to be met well in advance of that date. In comparison, the next most ambitious targets are South Korea, at 310 HRS by 2022, and Germany, aiming for 400 HRS by 2023.
At a local level, more than 20 regions have so far issued phased plans for the promotion of FCEV deployment. Shanghai, for example, has recently proposed a 2023 target of ‘100 hydrogen refuelling stations, 100 billion yuan of industry output, and 10,000 FCEVs deployed’.
*WPIC – Platinum Essentials March 2022 ‘Fuel cell electric vehicles are forecast to drive material long-term growth for platinum’