The Hydrogen Council proposes more than $10 billion worth of investments image

Fuel cell and battery electric cars are competing for supremacy of the upcoming EV revolution – and in the race for the prevailing technology the consumers will profit from having more options.

In all earnest, the hydrogen-powered cars have always been a few miles behind battery electric cars – just look at how many battery and fuel cell EVs are on sale today around the world. But automaker’s haven’t abandoned the fuel cell technology – for example the newly formed Hydrogen Council is made out of Toyota, BMW, Diamler, Honda, and Hyundai. Oddly enough, the participating partners also include oil companies such as Royal Dutch Shell PLC and Total SA and together they plan to pour $10.7 billion (€10 billion) in hydrogen-related products in the next half decade.

Today, annual investments around the world towards the development of hydrogen-related technology goes to about $1.5 billion. Aside from the five automakers, another 13 companies are part of the new Hydrogen Council – an organism that also plans to work with policy makers in a bid to help the transition from eco-unfriendly solutions to hydrogen. “In addition to transportation, hydrogen has the potential to support our transition to a low-carbon society across multiple industries and the entire value chain,” commented Takeshi Uchiyamada, Toyota’s chairman and a council co-chair.