Weichai Power announced that it would insist on developing hydrogen fuel, no matter how the social support for this might wax or wane. The technology is most appropriate for commercial vehicles – a convenient way for the firm to develop.
The second World New Energy Vehicle Conference has been held in Hainan, from September 27th to 30th. Specifically, this conference aimed to strengthen international cooperation and collaboration, breaking through the marketing process in the new energy vehicle arena.
According to the president of Weichai Power, Xuguang Tan, he went to the US and inspected the hydrogen cell five years ago, which had good performances. To promote new energy vehicles' sustainable development and global collaboration, the firm is gradually transferring its core business from the diesel engine to the hydrogen fuel, and investing CNY 2 billion.
As the China Association of Automobile Manufacturers' data presented, although China's hydrogen fuel autos' sales volume increased by about 79.2% in 2019, reaching 2737 units, its scale was still comparatively small. Moreover, the costs of hydrogen fuel are also higher than electric vehicles and internal combustion engine automobile. Hence, there is significant room for hydrogen fuel to develop in the future.