Chinese Automakers Announce Targets To Raise Hydrogen Vehicle Sales

Commercial vehicle maker Beiqi Foton Motor, a BAIC’s unit, said last week it aims to sell 4,000 hydrogen vehicles by 2023, and 15,000 such vehicles by 2025.

The announcements came after a finance ministry official said earlier in September that China will roll out a new package of policies to support hydrogen fuel cell vehicles.

China now only has a fleet of over 7,000 hydrogen vehicles, compared with over 4 million pure battery electric and plug-in hybrid vehicles.

Current policies to support electric vehicles offer subsidies on sales. But new supportive policies will require local city governments and companies to build up a more mature supply chain and business model for the industry.