0141 GMT February 20, 2020
The European Automobile Manufacturers' Association (ACEA) has recently called on European policymakers to ramp up investments in hydrogen charging infrastructure and subsidies for fuel-cell electric cars, Yonhap reported.
Fuel cell vehicles can contribute positively to the overall decarbonization agenda of the European Union. With zero tail pipe emissions, they can help reduce carbon dioxide from road transport while improving air quality for European citizens, ACEA said in a statement.
"Along with other alternatively powered vehicles, fuel cell vehicles hold a strong potential to help make the transition to zero-emission mobility," ACEA's Director General Eric-Mark Huitema said in the statement.
But their ability to reach this potential depends on a network of hydrogen refueling stations being built up across Europe. There are only 125 hydrogen stations across the EU, so there is much work to be done in the coming years, he said.
ACEA's statement comes as South Korea and the country's leading carmaker Hyundai Motor Group are increasing investments in hydrogen infrastructure to take the lead in the growing hydrogen-related market.
On Thursday, the Korean government announced it will build three hydrogen-powered cities by 2022 in extended efforts to promote hydrogen energy in Asia's fourth-biggest economy.
In 2019, the government earmarked 130.4 billion won in subsidies for hydrogen vehicles and 105.7 billion won for hydrogen charging infrastructure.
The world's hydrogen-related markets are expected to grow at an average of six percent annually to $2.5 trillion by 2050 from $129 billion in 2017, according to the Transport Ministry.