EV Market Seems Lucrative, with Hydrogen Fuel Cell Tech Declining
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While electric vehicles (EVs) were just talk - and there were just a few prototypes a decade ago - hydrogen fuel-cell vehicles seemed to be getting the upper hand. They were considered more practical and had a greater possibility of being incorporated in mainstream automobile manufacture. But now, the story is different. Hydrogen fuel-cell vehicles, in the passenger vehicle segment, seem to be on their way out and electric vehicles seem to be getting the traction.
Hydrogen Fuel Cell Manufacturers Heading towards EVs
Motley Fool analyst Travis Houim reports that two Japanese manufacturers, Honda ($HMC) and Toyota ($TM) plus South Korean manufacturer Hyundai ($HYMLF) are the last of the hydrogen fuel-cell vehicle manufacturers. Theirhydrogen vehicles aren’t popular, and these companies seem to be acknowledging that EVs are the future.
While fuel cells do have applications in many other transportation segments apart from passenger vehicles, particularly in long-haul vehicles, delivery trucks and buses that can benefit from the longer range hydrogen fuel offers and the easy fueling, it is electric power that the car companies are focusing more on.
Toyota Heads the Hybrid Electric Route
Toyota started the trend with the Prius, a hybrid car employing electric power plus a conventional combustion engine. And Toyota has been the pioneer of the hybrid trend, with other models now being introduced such as the Camry Hybrid, RAV4 Hybrid and the recently announced Highlander Hybrid. It isn’t going fully electric yet, but these hybrid models could eventually be getting the company to that stage.
Honda and Hyundai Have Solid Plans
Archrival Honda has recently announced an urban all-electric vehicle platform to be launched in 2020 with just 5000 units to be produced in the first year. This slow start by Honda indicates an uncertain future for its Clarity fuel cell. Hyundai has the most solid plans in place, having launched the Kona Electric that offers a range of 258 miles, and the Ioniq Electric offering a 124-mile range. Its electric vehicles also start well below $40,000.
In 2018, there were 2.02 million vehicles sold globally that were either powered electrically or were hybrid powered as per stats by Inside EVs, as quoted by Houim. In the US alone, 361,307 units were sold. Tesla ($TSLA) may be the biggest EV manufacturer out there, but General Motors ($GM) and the above-mentioned Japanese giants could soon reach Tesla’s production scale.
That shows the electric vehicle segment is getting crowded, but there is a great deal of opportunity out there to make use of. Identifying such investment opportunities can enable you to make great trading decisions. But you also need the right technology in terms of advanced stock trading software, which TradeZero offers. Call us at 1 954-944-3885 to find out more, or email us at firstname.lastname@example.org.
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