What is the outlook for the automotive industry in 2022?

Domestic hydrogen fuel cell industry within the listed companies: Yihuatong (688339), Xiongtao shares (002733), Weichai Power (000338), Dayang Electric (002249)

The core data of this article: production, sales, and ownership, Sales volume classification

Related technologies and markets are still immature

Hydrogen fuel cell fuel energy density is the largest, higher than lithium-ion electric vehicles and fuel vehicles, the energy efficiency ratio occupies an advantage. After considering the whole life cycle, the energy efficiency is about 29%, higher than 28% of lithium-ion electric vehicles and 14% of fuel vehicles. In terms of range, hydrogen fuel cell cars similar to traditional fuel cars, range of about 600 kilometers, better than lithium-ion electric vehicles; in addition, hydrogen fuel cell cars also have no noise, short charging time, low-temperature resistance, the severity of the accident is small and other advantages.

However, at present, hydrogen fuel cell vehicles in the Chinese market has just started, the technology and the market is still immature, in the infantile period, the future development of space is huge; and hydrogen fuel cell vehicle applications do not have universality, which is the future of hydrogen fuel cell vehicle technology needs to be innovated and researched.

Output affected by the epidemic

According to data from GGII, China's hydrogen fuel cell vehicle output rose year by year from 2016 to 2020, and output slipped to 1,199 units in 2020 due to the impact of the epidemic. This shows that China's hydrogen fuel cell vehicle market is growing, and the increase in production represents, to some extent, an increase in market demand. In the future, the development prospect of hydrogen fuel cell vehicles is better.

Market enters the early stage of commercialization

In 2016-2020, China's hydrogen fuel cell vehicle ownership increased year by year, and sales declined in 2020 due to the impact of the epidemic. By the end of 2020, China's annual sales of hydrogen fuel cell vehicles 1,177 units, retention of 7,352 units, marking China's hydrogen fuel cell vehicles are gradually recognized by the market acceptance, hydrogen fuel vehicles into the early stage of commercialization.

Commercial vehicles are the focus of the R&D side of the promotion

Unlike overseas focus on the mass production of hydrogen fuel cell passenger cars, China will focus its R & D and promotion on commercial vehicles. 2020, China's fuel cell vehicle sales, all commercial vehicles. Among them, the sales of passenger cars accounted for 98%, and the sales of trucks accounted for 2%. By the end of 2020, China's hydrogen fuel cell vehicles accumulated more than 100 million kilometers, mainly hydrogen fuel cell logistics vehicles and buses.

Policy Guidelines

The Energy Saving and New Energy Vehicle Technology Roadmap (Version 2.0) released by the Society of Automotive Engineers of China (SAE) is a clearer requirement and guideline for the development of hydrogen energy in China. With the national "carbon neutral", "carbon peak" task of the promotion of hydrogen energy, this green energy by the state's attention and vigorously promote. The future goals of the wind energy electrolysis of water to produce hydrogen, hydrogen refueling stations and other infrastructure construction, hydrogen fuel cell vehicles and other detailed planning.

For more information, please refer to China Hydrogen Fuel Cell Industry Market Outlook and Investment Strategy Planning Analysis Report