After electric power, Chinese automakers target spurt in hydrogen vehicles

China’s biggest vehicle maker is accelerating a push into alternative energy, targeting a lead in hydrogen cars as it moves beyond gasoline and electric autos.

File photo used for representational purpose. (REUTERS)
File photo used for representational purpose.

SAIC Motor Corp. plans to gain 10% of China’s hydrogen-vehicle market by 2025 as global automakers step up development of clean-energy cars to help protect the environment. The company will add at least 10 hydrogen models over the next five years, it said in a statement.

The nascent hydrogen-vehicle market globally is dominated by companies such as Japan’s Toyota Motor Corp. and Canada’s Ballard Power Systems Inc. China’s government is putting its policy might behind the technology -- just as it has done with battery-electric vehicles -- encouraging more companies to participate.

Also check these Bikes

Find more Bikes
Odysse Electric Odysse Electric Hawk (HT Auto photo)
₹ 73,999 - 98,500**Ex-showroom price
Add to compare
Check latest offers
Battre Electric Mobility Battre Electric Loev (HT Auto photo)
₹59,900**Ex-showroom price
Add to compare
Battre Electric Mobility Battre Electric One (HT Auto photo)
₹74,000**Ex-showroom price
Add to compare
Battre Electric Mobility Battre Electric Iot (HT Auto photo)
₹79,999**Ex-showroom price
Add to compare
Add to compare
Prevail Electric Elite (HT Auto photo)
₹ 1.30 Lakhs* *Ex-showroom price
Add to compare

Also Read : Nikola says open to cooperation with Hyundai on hydrogen technology

The government wants 1 million fuel-cell vehicles on the roads in a decade and is spending hundreds of millions of yuan to subsidize purchases and spur research and development. And, as seen with battery-powered cars, a slew of startups and established companies are trying to capitalize on the policies.

SAIC, based in Shanghai, said it targets a valuation of 10 billion yuan ($1.46 billion) for its hydrogen fuel-cell development arm in the next five years.

Also Read : Students of IIT BHU develop all-new hydrogen-powered vehicular prototype

Shares of the company gained 1% as of 10:31 a.m. in Shanghai. They have lost 20% this year. SAIC makes cars with partners including Volkswagen AG and General Motors Co. in China.

First Published Date: 14 Sep 2020, 11:32 AM IST
NEXT ARTICLE BEGINS
Shopping Bag Shop Now
74% OFF
Microfiber Car Cleaning Soft Brush Ideal as Mop Duster, Washing Brush with Long Handle, Dust Cleaner Car Wash Brush with Handle, Soft Brush Scratch Free, Cleaning Dashboard Curved Design - Grey
Rs. 389 Rs. 1,499
75% OFF
IDELLA Car Duster, Extendable Long Handle Microfiber Car Duster Exterior Scratch Free Car Cleaning Tool, Car Dust Brush for Truck, Pickup, SUV, RV, Motorcycle, Vehicles Cleaning,(Multicolor)
Rs. 227 Rs. 899
64% OFF
Antson Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable, Portable,Rechargeable Vacuum (2 in 1)
Rs. 699 Rs. 1,939
1% OFF
GOODAIR Clear Car Windshield Enhancer | Classic |12 Tablets
Rs. 295 Rs. 299

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
Powered by: Acko Logo
Please be noted that any information provided herein above will be received by Acko General Insurance Limited (“Acko”). By mentioning the above information, you agree to provide these details and information to Acko.
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.