Electric cars run on electricity. Hydrogen fuel cell cars run on subsidies (and much, much more electricity).
Yes, I've written this before. But it bears repeating because a common myth is that politicians - through the subsidy schemes they've created - have picked a winner (electric cars) over other technologies. Colin McKerracher's new article in the Bloomberg Hyperdrive newsletter clears up this myth. [1/3]
Good to see the analysis of EU spending on infrastructure: "That means every fuel cell vehicle in the EU fleet at the end of 2020 was supported with $83,000 in infrastructure funding, compared to just $85 for each EV."
I did a little analysis on the round of funding last year and it hasn't changed much.
[2/3]
So let that close to 1000x multiplier sink in. If you're thinking: that's why we need to keep supporting hydrogen fuel cell cars, we can't stop now - congratulations, you've discovered the sunk cost fallacy.
In addition to discussing the removal of subsidies that perpetuate the use of fossil fuels, we need to start discussing the removal of inefficient decarbonisation subsidies and overcome this fallacy.
[3/3]
Bloomberg: Despite equal (or better) policy incentives for hydrogen, EVs are winning
BMW's CEO Zipse: "The same policy incentives for electromobility are needed for hydrogen to achieve a breakthrough"
Is he reading the news backwards?
https://www.reuters.com/sustainability/bmw-ceo-calls-china-expand-hydrogen-network-2023-09-06/
BMW <a href="https://www.reuters.com/markets/companies/BMWG.DE" target="_blank">(BMWG.DE)</a> Chief Executive Oliver Zipse, in a speech on Wednesday, called on China to expand its hydrogen network in urban areas and clarify public charging standards to encourage customer uptake of electric cars.
Jaap Burger
Richy222