Asia Is Going Big on Hydrogen Power. What That Means for Electric Vehicles.

But Asia may be changing the game. South Korean conglomerates Hyundai Motor (005380. Korea) and SK Holding (034730.Korea) recently announced multibillion-dollar investments that may start bridging the gap between hydrogen dreams and reality. China raised hydrogen’s profile in its latest five-year plan, and shows signs of picking national champions like Beijing Sinohytec (688339.China).

“China controls the value chain for electric vehicles and renewables,” says Mubashira Bukhari Khwaja, an investment director at Aberdeen Standard Investments. “Now they have a political need for hydrogen to work.”