Why Hydrogen Economy and Hydrogen Cars in Korea2019-12-05 [17:58]
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In January, the Moon Jae-in government announced a roadmap to revitalize the Hydrogen economy so that Korea can lead the hydrogen economy in the future. The government plans to achieve the cumulative production of 6.2 million hydrogen fuel cell electric vehicles by 2040, expanding hydrogen charging stations to 1,200 nationwide and hydrogen fuel cell public transportation.
It is expected to step into the hydrogen car market stepping together with Hyundai motors. However, there are many concerns to develop a battery electric vehicle (BEV), which is the current mainstream of future vehicle market, rather than a fuel cell electric vehicle (FCEV). Also the global sales volume shows the gap between battery electric cars and hydrogen fuel cell cars shows the gap respectively 3 million cars and 10,000 cars in 2019.
In addition, numbers of market study announced that hydrogen fuel cell cars would be less than electric vehicle sales. Some professors of mechanical engineering have commented that battery electric cars will dominate the market. However, Korean government have presented the hydrogen economy and revitalization of the hydrogen car early this year.
Global Electric Car sales 2018ⓒ EVVolumes.com
Simply compare the electric cars and FCEV, much better safety, the market price, and infrastructures of BEV are proven in the market.
However, BEV can be manufactured without engine and most of car components. And Hyundai motors surely predict that the accumulated production technologies of vehicles can’t be core competence any longer, and the majority of component suppliers won’t be needed either in the future. In turn, the job loss rate may be increased in the car industries.
Battery electric vehicles have mainly relied on battery manufacturers supply, and Top 5 battery supplier occupies 75% of total market share. 41% share is supplied by CATL, BYD, the Chinese battery makers and Panasonic and AESC, the Japanese makers by 25%. LG Chem, the Korean battery maker holds 10%. Korean government has invested to develop the better battery technologies but the time is ticking and other countries won’t take the back seat.
It is a different story for Fuel Cell Electric Vehicles, however, which Hyundai and Toyota only produce and develop worldwide. We must choose to make our industry get going for the goodness of all. Clearly, electric cars have a larger market and early equipped infrastructure than hydrogen fuel cell EVs, and BEV themselves may be more efficient than hydrogen cars at this time. We choose things, only if for now, between hydrogen and battery, simply compare the pros and cons between them. Only think what's efficient.
However, more importantly, we must carefully examine what the technology changes in our industry and what benefits and loss the policy can bring to our society in the near future.
Global fuel cell electric vehicle and charge stations.ⓒ KTB Investment and Securities
VINATech is the comprehensive provider of core components of the fuel cell, including Catalyst Support, Platinum Catalyst, and Membrane Electrode Assembly developed with VINATech’s own carbon nanofiber(CNF) technology. VINATech is also a supercapacitor All the fuel cell components are developed by VINATech's own R&D lab.
Source : Nov 29th Ohmynews article of "Hydrogen Economy of South Korea"
Supercapacitor Hycap @vina.co.kr & Fuel cell Carbon @vina.co.kr
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