With the Beijing Motor Show currently taking place, it is worth pointing out that China has outranked Korea at the sales of hydrogen-powered vehicles.
According to SNE Research, this turnaround took place in 2023. Per manufacturer, Hyundai remains number 1 with 5,012 units of the Nexo and Elec City bus sold and a 34.7% market share, ahead of Toyota (3,737 Mirai and 102 Crown FCEV) and 26. 6% market share. However, sales dropped by 55.9% compared to 2022 (11,354 units). As a result, China has taken the lead, with 5,362 commercial hydrogen vehicles registered last year. A fact that did not go unnoticed in the Korean press, as evidenced by this article.
Hyundai was due to renew its 2018 Nexo in 2023, but the update will not take place until 2025. And plans for a hydrogen-powered vehicle for the group’s Genesis luxury brand have been postponed.
In its analysis, SNE Research points out that the Chinese government has drawn up a long-term plan (2021/2035) to develop the hydrogen industry, with an aggressive approach to vehicles and infrastructure.
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Article written by Laurent Meillaud and translated by Mariem Ben Tili
