Feb. 11, 2022
Article by Nicolas Pocard
The cost of fuel cell vehicles has been falling dramatically for years. And it will continue to drop within the next decade and beyond.
In today’s article, we’ll share what factors are driving this price reduction. You’ll also learn what Ballard is doing to ensure fuel cell vehicles are cost-competitive with battery electric and diesel vehicles by 2030.
Discover how economically viable fuel cells are in this report by Deloitte China and Ballard >>Let’s dive in!
Why has the cost of hydrogen fuel cells dropped?
Even with limited production volume, the price of fuel cell vehicles—especially buses— has been reduced by 65% over the past 10 years.
What has driven this price reduction?
On the fuel cell itself, major gains to date have been driven by innovations in technology and product improvements. With decades of experience, Ballard has been able to deliver these gains in combination with industry leading durability and reliability.
An excellent example of this is Ballard’s eighth generation fuel cell power module. The recently launched FCmove™ reduced product total life cycle costs by 35% compared to the previous generation. In fact, with each new generation, we’ve consistently reduced the cost by more than a third.