The trouble with fuel cells

So far, the Elon Musk version of the world is winning. Even as sales of EVs are starting to take off, fuel cell-powered vehicles remain a tiny market niche. Hydrogen-powered fuel cells may have advantages to battery-powered EVs, but they’re expensive, lack charging infrastructure, and have never had a Tesla-esque breakthrough with the public. Musk famously called them “fool cells” several years back.  Where have fuel cells made more inroads? In the “material handling business,” led by Plug Power’s success with forklifts, for instance; in specific, on-site locations where commercial and industrial customers need backup, reliable energy (think research facilities); and occasionally, with buses, led by Ballard Power, and long-range trucks, despite Nikola’s high-profile stumbles. But for all the promise of “hydrogen” power, fuel cell plays have largely disappointed investors. Even this…

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