Hydrogen cars could soon cost the same as gas-powered vehicles with government subsidies
This research looked at how government subsidies can make hydrogen fuel cell electric vehicles more affordable compared to regular internal combustion engine cars. By analyzing the cost difference between the two types of vehicles, the researchers found that with a subsidy of 22.5 million won, the initial more expensive hydrogen fuel cell cars can become cost-effective within 7 years. Even with a reduced subsidy of 18.73 million won, it could still make sense to buy a fuel cell car instead of a traditional one. This shows that eco-friendly vehicles can be a good economic choice with the right financial support, even if the hydrogen used is produced through environmentally friendly methods. The study suggests that investing in infrastructure with the money saved from reducing direct purchase subsidies could be a smart move in the long run.