Fuel-cell vehicles are set for big gains in China’s commercial truck market, JPMorgan says

• Fuel cell vehicles could account for one-third of commercial trucks in China by 2050, predicts JPMorgan’s Elaine Wu.
• Major automakers such as Toyota, Honda and BMW are tapping into the hydrogen fuel cell market.
• China is currently leading the world in hydrogen production and accounts for a third of global output, according to Wu.

China is already pushing for the promotion of fuel cell vehicles, according to the JPMorgan analyst.

“The [Chinese] government is promoting something, what we call ‘city clusters’ so that there could be demonstrative cities telling successful stories of how fuel cell vehicles are implemented in various parts of the country,” Wu said.