Hyundai Motor to boost hydrogen bus production sixfold in 2024 after sales of buses made in China surpassed those for domestically made ones for the first time. South Korea’s sole hydrogen bus manufacturer Hyundai Motor Co. is set to boost its hydrogen bus production capacity sixfold in 2024 after sales of electric buses made in China surpassed those for domestically made ones...
Hydrogen Subsidies
Hyundai will increase its hydrogen bus capacity by a factor of six in South Korea this year, with expectations that it can quadruple sales on the back of increased government subsidies, according to the respected Korean publication Maeli Business Newspaper. Annual production capacity for hydrogen buses at the Korean automaker’s factories in the city of Jeonju is increasing from 500 to 3,000. Hyundai...
South Korea’s sole hydrogen bus manufacturer Hyundai Motor Co. is set to boost its hydrogen bus production capacity sixfold in 2024 after sales of electric buses made in China surpassed those for domestically made ones for the first time. According to industry sources on Sunday, Hyundai Motor‘s Jeonju plant recently ramped up its annual production capacity for hydrogen buses to 3,000 units, up from...
The proposed subsidies could be allocated over a two-decade period. Credit: DifferR/Shutterstock.com. Germany’s Ministry for Economic Affairs...
In January 2024, the Japanese government released its "Interim Summary Report" in relation to its hydrogen strategies. The Report summarizes Japan's latest plans on hydrogen, including updates on the proposed "contract-for-difference" type of government support program. Background On 29 January 2024, the Japanese government released its "Interim Summary Report" (chukan torimatome)1 (the "Report")...
The EU has approved a plan by the German government to grant steel giant ArcelorMittal €1.3bn ($1.4bn) to partially decarbonise two of its steel mills with equipment designed to use green hydrogen — despite the company saying last week that such technology is too expensive to operate with renewable H2 in Europe. The Luxembourg-headquartered company will receive the direct grant from Berlin to...
Over the past two weeks, cities across South Korea have been unveiling subsidies for hydrogen cars that will effectively halve the cost of a new model for citizens and local businesses. The entirety of this funding is set to go to the Korean-made Hyundai Nexo, the only hydrogen car currently on sale in the country. In January, the central government said it would provide subsidies of 22.5m won ($16,875)...
India’s Ministry of New and Renewable Energy is considering a subsidy scheme to support the use of green hydrogen to generate power as a way to provide “round the clock” renewable electricity, as well as peaking power to the grid. One of the mechanisms that has been tabled is a Contract for Difference. In this type of subsidy, if the market power price is lower than a “strike price” agreed...
Led by Big Oil and other polluters, a massive lobbying campaign is underway to ensure that “clean hydrogen” is defined as laxly as possible. The largest single target of this lobbying blitz is the 45V hydrogen tax credit, passed as part of the Inflation Reduction Act and expected to cost taxpayers hundreds of billions over the next...
Massive boost for green hydrogen exporters as Germany allocates €3.5bn to H2Global auction subsidies
The German government is to transfer more than €3.5bn ($3.8bn) to the country’s pioneering green hydrogen purchasing programme, H2Global, in order to fund further subsidy auctions for renewable H2 and its derivatives this year, the company tasked with managing the scheme has announced today (Monday). The Hydrogen Intermediary Network Company (Hint.Co), which uses the funds it receives to auction...