The “China Zero Emission Freight Annual Progress Report 2023" was officially released at the Zero Emission Freight Action Annual Conference.

According to the report, mileage and transportation efficiency are key factors in achieving affordability of pure electric trucks. Hydrogen fuel cell trucks are expected to be affordable in 2030-2035, and financial subsidy policies are still important in reducing the purchase costs of zero-emission heavy trucks. New financial instruments can also help logistics companies ease the purchase pressure.

At present, several provinces and cities in China have introduced clear hydrogen energy development policies. The total number of fuel cell vehicles planned to be promoted by 2025 will reach about 110,000 vehicles, and there is plenty of room for the future.

In December 2021, the Shenzhen Development and Reform Commission officially released the “Shenzhen Hydrogen Energy Industry Development Plan (2021-2025)”, proposing that by 2025, Shenzhen will form a relatively complete hydrogen energy industry development ecosystem, build a hydrogen energy industry technology source, advanced manufacturing agglomeration highland, and multi-scenario application demonstration base to achieve commercialized application of hydrogen energy, and the scale of the hydrogen energy industry will reach 50 billion yuan; by 2035, the scale of the hydrogen energy industry will reach 200 billion yuan. Meanwhile, Shenzhen has listed the hydrogen energy industry as a key element of the “20+8” strategic emerging and future industrial cluster.

Hydrogen fuel cell related companies:

Guohong Hydrogen Energy (09663): Guohong Hydrogen Energy is a leading technical hydrogen fuel cell company in China focusing on research, development, production and sales of hydrogen fuel cell electric stacks and hydrogen fuel cell systems. According to Frost & Sullivan data, Guohong Hydrogen Energy ranked first for six consecutive years from 2017 to 2022 in terms of hydrogen fuel cell stack shipments.

Yihuatong (02402): Fuel cell vehicles equipped with the Yihuatong fuel cell system have been put into commercial demonstration operations in Beijing, Zhangjiakou, Shanghai, Chengdu, Zhengzhou and Zibo, etc., and the product application scenarios have been further expanded to various scenarios such as cold chain transportation, sanitation, and heavy trucks.

Weichai Power (02338): In response to agency research, the company said that the company has developed a full range of 15-260kW fuel cell product platforms. Related products have the advantages of high reliability, low cost, and low hydrogen consumption, and vehicles equipped with the company's hydrogen fuel cell systems have been put on the market in batches.

Dongyue Group (00189): Dongyue Future Hydrogen, the holding subsidiary of the company, is the only domestic enterprise with a foundation for mass production of the entire fuel cell membrane industry chain. The leading product fuel cell membrane has advanced technology and stable production lines. It has received high recognition and application cooperation from leading domestic and foreign hydrogen fuel cell companies such as AFCC, Ballard, Yihuatong, Remodeling, and SAIC Jet Hydrogen.