Plug Power Inc (PLUG)

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Elon Musk has no choice but to follow China's hydrogen economy, I think.

Amid Elon Musk’s Visit To Beijing For FSD Push, China Is Eyeing ‘Economical’ Hydrogen-Powered Vehicles As Next Alternative For Green Energy Transition
April 30, 2024

Tesla TSLA CEO Elon Musk recently wrapped up his visit to China, sparking speculation about the introduction of the full-self driving (FSD) system in the country. However, this visit comes at a time when China’s auto sector is focusing on hydrogen-powered vehicles with policymakers introducing various incentives and business applications to position China as a global leader in this clean energy source.

What Happened: Both central and local governments in China are rolling out a range of incentives to encourage the use of hydrogen-powered vehicles, South China Morning Post reported recently.
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https://hydrogen-central.com/amid-elon-musks-visit-to-beijing-for-fsd-push-china-is-eyeing-economical-hydrogen-powered-vehicles-as-next-alternative-for-green-energy-transition-benzinga/


China Seeks to Make Green Hydrogen One of Pillars of Economy
Jun 17, 2024

Last week, at the International Carbon Neutrality Expo in Shanghai, many scale models were presented that allowed experts to form a preliminary idea of how China intends to use hydrogen energy.
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More than 20 of the mentioned dozens of hydrogen companies are based in Lingan ?istrict, Shanghai. The specified district is home to a Gigafactory owned by US automaker Tesla.
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Ouyang Minggao called hydrogen the fourth pillar of China’s economic system. The Asian country has already been able to achieve success in the production of solar panels, electric vehicles, and lithium-ion batteries, which exports last year amounted to 1 trillion yuan ($138 billion), providing 5.2% growth in the gross domestic product of the GDP of the state. Hydrogen is also likely to contribute to China’s GDP.

Green hydrogen produced using renewable energy sources can solve the problem of excess solar and wind capacity in the Asian country. Last year, China increased its renewable energy capacity by a record 301 gigawatts. This figure is almost 60% of the global total. At the same time, China’s power infrastructure was not able to consume most of the power generated.
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https://payspacemagazine.com/news/china-seeks-to-make-green-hydrogen-one-of-pillars-of-economy/


China Set to Massively Surpass Its 2030 Wind and Solar Goal
By You Xiaoying Jun 14, 2024

China is on track to far exceed its 2030 wind and solar target, according to experts — positive news for global efforts to tackle climate change but a sign of growing pressure on the country’s power grid.
China set a target of installing at least 1,200 gigawatts (GW) by the end of the decade, but it is set to surpass that amount in the next couple of months, said Heymi Bahar, a senior analyst at the International Energy Agency (IEA) in an interview with Caixin Thursday.
https://www.caixinglobal.com/2024-06-14/china-set-to-massively-surpass-its-2030-wind-and-solar-goal-102206085.html