Chinese government aiming at 1 million FCEV registrations by 2030
According to a report by the South China Morning Post, the Chinese government is aiming for an ambitious target of getting 1 million fuel cell vehicles (FCEVs) on the roads by the year 2030. Towards that end, an interim target of 50,000 FCEVs has been set by the government for 2025.
In order to achieve its ambitious FCEV registrations target, the Chinese government is planning to promote the adoption of FCEVs in the country by offering massive subsidies to potential buyers in several provinces.
According to the report, subsidies to the amount of 160,000 yuan (approximately EUR 20,300) per FCEV will be offered to buyers in 17 provinces in 2019. Buyers of commercial FCEVs in the 17 provinces will each get subsidies of up to 400,000 yuan (EUR 50,800).
In addition to the subsidies on the purchase of FCEVs, the construction of hydrogen filling stations will also be subsidized by local authorities in ten cities. The subsidy for each hydrogen filling station constructed in the ten cities will go up to 4 million yuan (EUR 508,300).
The Chinese government’s move to subsidize FCEV purchases is aimed at achieving the ambitious 1 million FCEV target by 2030. With only 1,791 FCEVs registered in the country in end-2018, the government apparently assumes that FCEV registrations will record a moderate growth to 50,000 units by 2025, and will grow rapidly thereafter to record a staggering number of 950,000 registrations in the subsequent five years.