CES 2024 was literally overflowing with hydrogen-powered vehicles. Featured companies include Nikola, Croft Motors, and Hyundai. Nikola is pioneering the proliferation of hydrogen-powered trucks by introducing the first US-made hydrogen trucks. Nikola has finally started shipping its first US-made hydrogen truck to customers. With these redesigned Nikola trucks, a potential turning point for wider adoption of hydrogen-powered vehicles is in sight.Croft Motors is developing hydrogen-powered “rugged” vehicles and aims to accelerate hydrogen vehicle adoption with distributed fuel products. Hyundai, on the other hand, has stated its goal of becoming a carbon-neutral company by 2050 by adopting hydrogen not only for cars, but also for heavy-duty vehicles and industrial uses.
Hyundai Insists on Hydrogen Fuel
The Hyundai Group said at CES 2024 that they will play a “major role” in its initiative to become a carbon-neutral company by 2050.Hyundai’s big push into hydrogen at CES 2024 could be a strategy to increase the company’s competitiveness in the electric vehicle market and achieve its carbon-neutral goals. By 2050, they say, they will play an “important role” in this. It also adds that their goal is to “build the entire hydrogen energy ecosystem around the world, from ocean to land.” However, widespread adoption of hydrogen fuel will require more effort and infrastructure development. So far, things have not gone as Hyundai expected. Because the company’s expected profits have not materialized due to the lack of widespread adoption of this fuel. Maybe because the vehicles are not profitable, or maybe because people still prefer fossil fuel vehicles, which keeps the market share quite low. Today, Hyundai is the world’s third-largest automaker, but ranks eighth when it comes to battery-electric vehicles. This shows that the brand still has a long way to go.
Hydrogen Fuel
At CES, suppliers such as Bosch, PACCAR and SK Group are also making significant strides in hydrogen. Federal investments are spurring industry growth by providing support for clean hydrogen initiatives. In addition, federal investments and legislation for hydrogen transportation include steps to strengthen infrastructure to support HFCVs.
However, there are also challenges to the adoption of hydrogen-powered vehicles. Factors such as lack of infrastructure, the less efficient use of hydrogen compared to electric vehicles, and production costs hinder the widespread adoption of this technology.
Let’s see how long it will take for this green energy and environmentally friendly fuel to become widespread.
