A report published by Fitch Ratings suggests that penalties for failure to meet new emissions targets in 2025 are encouraging truck manufacturers to invest in hydrogen fuel-cell technology.
The technology focus is being driven, said the report, by the EU’s adoption of new HGV emission targets designed to meet carbon-neutrality by 2050, meaning a 15 per cent average reduction from 2025 and 30 per cent from 2030.
Fitch Ratings claimed that heavy-duty vehicles are responsible for around a fifth of CO2 emissions from road transport in the EU and around six per cent of total EU carbon emissions. It stated that hydrogen fuel cells are “the leading technology truck-makers are investing heavily in”.
According to the report, “Fitch Ratings considers the high cost of manufacturing and operating fuel-cell trucks as one of the main obstacles. Costs will have to come down significantly before production could be ramped up, which means a long-term development horizon.
“If development of fuel-cell trucks continues as planned, mass production could become achievable in the next decade, while more than 40 per cent of heavy-duty trucks could be produced using this technology in 2050.”