TOKYO/BEIJING/NAGOYA, Japan -- China's push to promote hydrogen fuel cells as the next big thing in the auto industry has led to a slew of ambitious plans to develop the sector as local authorities vie for hundreds of millions of dollars in incentives.
State-owned SAIC Motor, based in Shanghai, recently announced its first medium-term strategy for fuel cells. The automaker aims to roll out at least 10 models and gain the capacity to produce 10,000 vehicles per year by 2025, and will shift to domestic sourcing as it looks to become globally competitive by 2030.
