Technology advancements and government support to determine fate of fuel cell vehicles
Along with private investments in fuel cell technology development, FCEVs would also require a heavy contribution from governments toward industrial production of hydrogen and setting up of refueling stations for accelerated growth
It is a known fact that an increasing number of vehicles are becoming electrified. What is uncertain is which electrification technology will gain the upper hand in the long run. The conventional internal combustion engine (ICE) is expected to feature in more than 80% of the light duty vehicles until the end of the decade, but a good chunk of these vehicles will also have some level of electrification—from mild hybrids, full hybrids, plug-in hybrids, to range extenders. Within zero emission vehicles (ZEVs), the market is expected to be divided between battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs). In the first round, BEVs have taken a significant lead over FCEVs.