Ballard Power Systems and Deloitte China have announced a joint white paper, “Fueling the Future of Mobility: Hydrogen and fuel cell solutions for transportation,” outlining fuel cell solutions for transportation at the Consumer Technology Association’s CES 2020 trade show on Wednesday.
The white paper explores how hydrogen is set to power the future of mobility, outlining FCEV projected costs. The document states FCEVs will become much cheaper as manufacturing technology matures, economies of scale improve, hydrogen fuel costs decline and infrastructure develops.
Randy MacEwen, Ballard President and CEO said, “In less than 10 years, it will become cheaper to run a fuel cell electric vehicle (FCEV) than it is to run a battery electric vehicle (BEV) or an internal combustion engine (ICE) vehicle for certain commercial applications.”
Both companies have provided a review of energy efficiency, hydrogen production, green gas and other environmental impacts related to fuel cell technology. The review concluded that FCEVs are more environmentally efficient than BEVs and ICE vehicles.
“China is now the largest producer of hydrogen as well as a world leader in the commercial development of FCEVs. In the past few years, China has devoted significant efforts to the hydrogen fuel cell vehicle industry, driving technology maturation and decreased hydrogen cost while also activating the application of hydrogen in various areas,” Chris Lin, Deloitte China financial advisory director stated.
The white paper estimates the Total Cost of Ownership (TCO) for commercial hydrogen vehicles will fall by more than 50 percent in the next 10 years.
Deloitte is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit & assurance, consulting, financial advisory, risk advisory, tax and related services to select clients. The company is a multinational professional services network. Deloitte is one of the “Big Four” accounting organizations and the largest professional services network in the world by revenue and number of professionals with headquarters in London, United Kingdom.