China releases new policies to support hydrogen vehicle sales
China, the world’s largest market for automobiles and new energy vehicles, released new policies to boost hydrogen fuel cell vehicles and improve the industry’s supply chain and technologies.
While previous policies in support of NEV makers provided subsidies on sales, the new policies will require companies and local governments to create a more mature supply chain and business model.
Companies and local governments will need to prove that their joint projects can lower the price of hydrogen fuel, increase hydrogen-charging stations, expand hydrogen fuel cell vehicle fleets, and improve related technologies.
Authorities will offer rewards to the projects after assessing how they fared on these key performance areas.
China has more than 7,000 hydrogen vehicles, compared with 4 million battery electric and plug-in hybrid vehicles.
Toyota Motor, Hyundai Motor, and other global automakers already announced launch plans for hydrogen vehicles in China.