Hydrogen-Powered Cars: 16 Million on Europe’s Roads by 2030, Report Says
February 26, 2008

A new report by the European Union (EU) estimates 16 million hydrogen-powered vehicles will be traveling European roads by 2030, dramatically reducing oil consumption but requiring lengthy and expensive infrastructure changes.

The use of hydrogen fuel is a realistic alternative to fossil fuels and could cut oil consumption by 40 percent by 2050, but infrastructure investments could cost the equivalent of nearly $90 billion (based on today’s exchange rates), says the EU’s research, reported on by Dow Jones Newswires on Tuesday.

Despite substantial technological and infrastructure barriers, there is an opportunity to take an early lead in the development of a hydrogen economy, the European Commission said. “The right steps have to be taken quickly if Europe is not to count the cost of late market entry.”

Ministers from the 27 EU member countries are expected to approve a nearly $1.4 billion industry-led research program into hydrogen fuel cells Monday. The EU and the private sector will each provide half the funds.

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