Hydrogen-powered vehicles are a powerful tool in the fight against climate change.
We cannot, however, ignore the issue of cost. Governments around the globe are making important investments to create the infrastructure needed for hydrogen mobility, but fuel cell electric vehicles must make stand-alone financial sense for consumers and municipalities.
In an in-depth study by Deloitte and Ballard which analysed the total cost of ownership of fuel cell electric vehicles (FCEVs), battery-electric vehicles (BEVs), and traditional internal combustion engine vehicles (ICEVs) across a thirteen-year timespan, FCEVs are projected to cost less to own and operate than both BEVs and traditional vehicles by 2027. In fact, the total cost of ownership, or TCO, for FCEVs will drop by half in the next 10 years.
FCEVs demonstrated the lowest cost of ownership in every use case, in Shanghai, California, and London:
- Logistics operator
- Drayage truck operator
- Bus operator
Across geographies and applications, there’s a promising and affordable future for hydrogen mobility. Let’s take a closer look.