CHINA REPORT
Bosch Qingling has begun construction on Bosch’s first R & D Center for hydrogen fuel production in the world, a national hydrogen fuel cell engine production base and a national hydrogen energy commercial vehicle production base.
The hydrogen fuel cell engine project is being built jointly by Bosch (China) Investment Co., Ltd. and Qingling Group, with a total investment of about US$ 470 million (2.98 billion yuan).
Bosch predicts that by 2030, about 12.5% of new commercial vehicles in the world will be powered by fuel cell vehicles. In order to further promote the industrialization of hydrogen power in China, Bosch began to lay out the construction of a new plant in. At present, it has completed the preparations such as overall planning and design, and officially started construction today.
The site covers a total area of about 240,000 square meters. In the first phase, about 99,900 square meters of R & D and testing center, production and manufacturing center and office area will be built. It is expected to be operational by the end of May 2023.
Source: Sohu Read The Article
PSR Analysis: According to the forecast data previously released by the international Hydrogen Energy Commission, hydrogen energy will provide 18% of the global energy demand in 2050, which is expected to create a market of more than US $2.5 trillion, and fuel cell vehicles will account for 20-25% of global vehicles.
At present, hydrogen fuel cell vehicles are in the initial stage. Today, hydrogen fuel cell commercial vehicles, and hydrogen fuel cell passenger vehicles account for less than 0.1% of the global population of these vehicles. It is expected that the number of hydrogen fuel cell vehicles population in China will increase from 7,352 units in 2020 to 100,000 units in 2025.
The compound annual growth rate is expected to reach 68%, and the market scale is expected to reach 80 billion yuan. The balance between the total life cycle cost (TCO) of hydrogen fuel cell vehicles and the cost of competitive products such as pure electric vehicles in the future is an important turning point for the improvement of market penetration of hydrogen fuel cell vehicles in various segments. The development of subsidies will play an important role in the development of the vehicle market. PSR
Jack Hao is Senior Research Manager – China for Power Systems Research
