In a Monday report, analyst Michael Glen described 2021 as a “watershed moment in the history of the hydrogen economy .” He expects an accelerating number of hydrogen-related announcements by companies and countries regarding hydrogen technology and its ability to wean the world off fuels that generate carbon dioxide.
Nikola plans to build a heavy-duty semi-truck, the kind common on U.S. interstate highways, powered by electricity generated using a hydrogen fuel cell.
Weichai Power (2338.Hong Kong), Ballard’s largest shareholder , is raising $2 billion in cash for hydrogen projects.
“It is clear to us that fuel cells represent a core component of [Weichai’s] growth strategy over coming decades,” wrote Glen.
“Investors do not fully appreciate Weichai Power’s position, market share, OEM relationships and overall scale in the largest market for commercial trucks [and] buses globally.” OEM is short for original equipment manufacture and, in this case, refers to companies making heavy-duty trucks and buses in China.
That’s partly because Ballard stock had an incredible 2020 , buoyed by increasing excitement for hydrogen fuel technologies and their wider application into transportation markets.
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