CEOs Unite for Hydrogen Mobility in Europe: A Strategic Imperative
Key Ideas
- CEOs from leading companies advocate for hydrogen mobility as essential to Europe's climate goals and industrial competitiveness.
- Hydrogen technologies are seen as crucial to diversifying and cost-effectively decarbonizing road transport, potentially saving billions in infrastructure costs.
- Hydrogen mobility is highlighted as a job creator, with the potential to leverage Europe's industrial strengths and lead in hydrogen technology.
- A more coordinated policy framework is deemed necessary to support the rollout of infrastructure and enable the flourishing of the hydrogen mobility market.
CEOs from over 30 companies have come together to form the Global Hydrogen Mobility Alliance, emphasizing the importance of hydrogen mobility in Europe. In a joint letter to EU and Member State leaders, top executives from renowned companies like BMW, Honda, Hyundai, and Volvo stress the need for urgent action in developing hydrogen infrastructure to achieve Europe's climate goals and maintain industrial competitiveness. They argue that hydrogen technologies are crucial alongside battery-electric vehicles for a resilient and cost-effective decarbonization of road transport. The CEOs point out that embracing hydrogen mobility could result in substantial savings of 300-500 billion euros by 2050, compared to relying solely on electrification. They also highlight the potential for job creation, estimating up to 500,000 new jobs by 2030 in Europe's automotive and advanced manufacturing sectors through leading in hydrogen technology. Furthermore, they underline that hydrogen can enable demand aggregation, support hard-to-abate sectors, and reduce renewable energy waste. However, the CEOs caution that without a coordinated policy framework, the progress in hydrogen mobility may stall. They call for strategic initiatives such as the Sustainable Transport Investment Plan and Clean Industrial Deal to integrate hydrogen mobility centrally. The CEOs stress the importance of simplifying EU regulations to drive down costs and complexity in building hydrogen infrastructure. Oliver Zipse from BMW emphasizes that hydrogen is not just a climate solution but also a resilience enabler for Europe, supporting decarbonization and industrial sovereignty. The CEOs collectively advocate for a comprehensive approach to hydrogen mobility to ensure a sustainable and competitive European mobility sector.