Since 2020, the Bosch Group has been climate-neutral with its over 400 locations worldwide. Now, it’s diving deep into hydrogen fuel cells.
Dr. Volkmar Denner, Bosch CEO, stated proudly:
Bosch is already hydrogen-ready.
Dr. Denner is pleased with the company’s commitment to invest €1 billion ($1.2 billion) over the next three years into fuel cell technology. This sub-sector is rapidly emerging in the EU hydrogen market. He reaffirmed the company’s commitment to spend that much money in an announcement, adding it will happen from 2021 to 2024. It will also invest €600 million in the mobility sector in the same period.
Truckmakers and experts are at odds with whether fuel cells will power trucks in substantial numbers in the future. The VW Group and an increasing quantity of other manufacturers think that most trucks will be battery-powered. Daimler and Volvo have joined forces to build up such vehicles. Nevertheless, car parts supplier Bosch is betting heavily on hydrogen fuel trucks, reports Martin Buchenau in Handelsblatt.
Bosch intends to bring down the technology’s high investment costs through serial production.
At the company’s annual press conference, Dr. Denner detailed the hydrogen investment. He declared that by 2030 the marketplace for green hydrogen in the EU might be worth €40bn ($48bn), donning annual development rates of 65%.
He also asserted an astounding estimate that the marketplace for mobile fuel cell components, in particular, could be worth around €18bn ($21bn) by the end of this decade. Yet, these are conservative numbers when put alongside other hydrogen advocates’ forecasts. Regardless, growth is undoubtedly happening.
Bosch also intends to supply electricity generated with hydrogen to residential areas, commercial manufacturers, and data centers by putting 100 small-scale fuel cell power stations into operation this year.
According to Dr. Denner, Bosch is ready to lead this growing market and expects it to be lucrative within three years, with sales increasing five-fold to about €5 billion in 2025. He boasted:
We have what it takes to be a leader in this market as well.
Only last week, Bosch entered into cooperation on manufacturing fuel cells with China’s Quingling Motors “to build up, assemble and market gas cell systems for the Chinese market.” Furthermore, Bosch’s previous success with the new fuel cell plant in the center of Bamberg, Germany, will be used as an example for the ever-growing, lucrative EU hydrogen market.
https://www.intelligentliving.co/bosch-hydrogen-technology-2024/
