Electric Vehicle (EV) Market Analysis: BEV Versus Fuel Cell
The road to clean emission vehicles has come to fork – the US and European markets tend to support the battery-electric vehicle (or BEV) infrastructure while the Asia’s biggest economies are backing hydrogen fuel cell cars:
- China, the world’s biggest auto market with some 28 million vehicles sold annually, targets more than 1 million hydrogen fuel cell vehicles in service by 2030.
- Japan, with about 5 million vehicles sold annually, targets to have 800,000 hydrogen fuel cell vehicles on the road by 2030.
- South Korea, with about 1.7 million vehicles sold annually, aims to have 850,000 vehicles by 2030.
Which approach is the winner:
- Consumer market vs government market
- Technology: BEV vs Fuel cell
- Infrastructure: BEV vs Fuel cell
- National priorities
- National government markets
- National infrastructure markets
- Lithium is an important part of the equation.
We firmly believe that the entire premise of Fuel Cell vs. Battery is wrong. Fuel cell and electric battery are non competing but rather complementary technologies.
