German automotive supplier Bosch has announced plans to invest approximately €2.5 billion ($2.8 billion) in hydrogen fuel cell technology between 2021 and 2026. The company expects this investment to generate around €5 billion in sales by 2030. Notably, this planned investment exceeds the previously earmarked amount by €1 billion for the years 2021 to 2024.
Hydrogen fuel cell vehicles operate by combining hydrogen with oxygen to produce energy and water, enabling them to recharge in minutes and possess a significantly greater driving range compared to battery-electric vehicles. However, the infrastructure for hydrogen fuel cells remains underdeveloped, and the technology is less energy-efficient.
Bosch predicts that by 2030, approximately one in every five newly manufactured trucks weighing over six metric tons will be equipped with fuel-cell powertrains.
Stefan Hartung, the Chief Executive of Bosch, expressed the company’s commitment to growth through hydrogen technology.
Bosch has already commenced production of its fuel cell power module, which generates electricity from hydrogen in vehicles, primarily for commercial long-distance applications. The production is taking place at the company’s plants in Stuttgart-Feuerbach, Germany, and Chongqing, China.
Nikola Corporation will serve as the initial customer for the modules manufactured in Stuttgart-Feuerbach. The Class 8 hydrogen fuel cell electric truck is set to enter the North American market in the third quarter of 2023.
In the second half of this decade, Daimler Truck intends to introduce a hydrogen truck to the market by establishing a joint venture with Volvo , focusing on the development of zero-emissions technology.
Furthermore, automaker Stellantis plans to commence deliveries of medium-sized vans powered by hydrogen fuel cells in Europe before the end of 2021.
In contrast, Volkswagen subsidiary Traton has chosen to concentrate solely on the development of battery-electric vehicles.
