Chinese auto manufacturers’ new goal to increase Hydrogen Vehicle sales rate?

Chinese automakers have considered plans to increase sales of hydrogen fuel cell vehicles. In this, the government is expected to announce new policies in the world’s largest auto market earlier this month. Let us tell you that SAIC Motor is known as China’s largest automobile manufacturer. Not only this, but its partnership with Volkswagen AG and General Motors Company has also been completed.

It plans to sell more than 10,000 hydrogen fuel cell vehicles by 2025. Commercial vehicle manufacturer Beiqi Foton Motor, a unit of BAIC, reported that 4,000 hydrogen vehicles by 2023 and 15,000 vehicles by 2025 have been added. Where a Finance Ministry official had also stated earlier in September that China was about to prepare a new package of policies to support hydrogen fuel cell vehicles.

China has a share of more than 7,000 hydrogen vehicles in recent times, which is compared to more than 4 million battery-electric and plug-in hybrid vehicles. Current policies to support electric vehicles continue to provide subsidies on sales. The new ancillary policies state the need for local city governments and companies to create new supply chains and business models for the industry.