Fuel Cell Vehicle Industry Overview
The flex-fuel vehicle industry constitutes a number of players making up a concentrated market. The top five competitors in the market account for more than 60% of the entire market share, owing to a wide range of vehicles that operate on the fuel cell.
The major players in the market include Hyundai Motor Company, Volkswagen AG, Honda Motor Company, Toyota Motor Corporation, and Mercedes-Benz Group.
Many other players are partnering with players to develop fuel cell electric vehicle technology. For instance,
- In July 2021, Toyota announced that Caetano Bus, the Portuguese bus manufacturing company, and Toyota announced the co-branding of the battery-electric city bus, the e-City Gold, and the fuel cell electric bus, the H2.City Gold. Since 2019, TME has integrated Toyota's fuel cell technology, including fuel cell stacks, hydrogen tanks, and other key components, into the hydrogen city buses manufactured by Caetano Bus.
- In April 2021, SAFRA Materiel Transport Public and Symbio (a subsidiary of Michelin and Faurecia) signed an agreement to manufacture 1500 hydrogen buses.
Fuel Cell Vehicle Market Leaders
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Volkswagen AG
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Mercedes-Benz Group
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Honda Motor Company Limited
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Hyundai Motor Company
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Toyota Motor Corporation
- *Disclaimer: Major Players sorted in no particular order
