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Hydrogen storage tanks in Spain in May 2022. Hydrogen has a diverse range of applications and can be deployed in a wide range of industries.

Angel Garcia | Bloomberg | Getty Images

The buzz around hydrogen has gotten increasingly loud in the past few years — many see it as an important tool in reducing the environmental footprint of heavy industry and helping economies hit net-zero goals.

The green hydrogen sector, which is centered on producing it using renewable sources of energy like wind and solar, has drawn particular interest and boasts some high-profile backers.

They include German Chancellor Olaf Scholz, who in 2022 called it “one of the most important technologies for a climate-neutral world” and “the key to decarbonizing our economies.”

In the world of business, multinationals from Iberdrola to Siemens Energy are also looking to make plays in green hydrogen.  

But while there’s a huge amount of excitement about the potential of hydrogen — the International Energy Agency describes it as a “versatile energy carrier” — there are also undoubted challenges.

For a start, the vast majority of hydrogen production is still based on fossil fuels, not renewables — a fact clearly at odds with net-zero goals.

And when it comes to green hydrogen specifically, production costs are a significant issue, and will need to be reduced in the years ahead.

Transporting hydrogen from production sites to users is another equally important factor to consider.

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“Hydrogen is pretty expensive to move,” Murray Douglas, head of hydrogen research at Wood Mackenzie, told CNBC during an interview.

“It’s more difficult to move than natural gas … technically, engineering wise … it’s just harder,” he added.

Douglas is not alone in highlighting some of the hurdles in delivering hydrogen.

The U.S. Department of Energy, for instance, notes key challenges “include reducing cost, increasing energy efficiency, maintaining hydrogen purity, and minimizing hydrogen leakage.”

The DOE adds that more research is required to “analyze the trade-offs between the hydrogen production options and the hydrogen delivery options when considered together as a system.”

Location important

In relation to the logistics surrounding green hydrogen in particular, one area that will need attention is the location of production facilities.  

Often, these are earmarked for areas where sources of renewable energy are abundant — such as Australia, North Africa and the Middle East — but many miles away from where the hydrogen will actually be used.

Wood Mackenzie’s Douglas referenced transportation options when reflecting on the investment horizon for the next 10 years.

“You can obviously pipe it, but you probably need a dedicated pipeline,” he said, noting that this would likely need to be a new build and close to end-users.

The only other realistic option in this investment horizon, he said, relates to exporting the hydrogen as ammonia.

“You produce the hydrogen, the green hydrogen, and then you would synthesize it into ammonia with nitrogen,” he said.

The shipping of ammonia was, Douglas noted, “a pretty established technology and industry — there’s already a bunch of receiving ports in place.”

This ammonia could then be sold directly to end users, such as fertilizer producers.

An alternative option would be to “crack the ammonia back into hydrogen,” although this would not be without its own issues.

“As soon as you start ‘cracking’ back into hydrogen use, you start to incur some … quite big energy losses,” Douglas said.   

Efficient delivery system needed

In a statement sent to CNBC, Jorgo Chatzimarkakis, the CEO of industry association Hydrogen Europe, was bullish about the prospects for green hydrogen.

He said it would “become a global commodity,” before stressing the importance of having “an efficient delivery system.”

Chatzimarkakis also highlighted the need for a certification program, because “green hydrogen needs to prove that it is sourced from renewable energy.”

Despite some clearly big obstacles, partnerships and programs related to the supply and distribution of green hydrogen are starting to take shape.

Earlier this year, for example, Greenergy and Octopus Hydrogen — the latter is part of the Octopus Energy Group — announced they had started a “green hydrogen delivery partnership.”

Elsewhere, German firm Enertrag says it’s been “operating a tanker and transport trailer to deliver large quantities of green hydrogen to customers” since 2021.

And back in 2022, Madrid-headquartered energy firm Cepsa said it would work with the Port of Rotterdam to develop “the first green hydrogen corridor between southern and northern Europe.”

Sticking point

Though the technology and knowledge for hydrogen production and delivery are there, one sticking point remains.

“The industry knows how to transport hydrogen,” Wood Mackenzie’s Douglas said, adding that the energy and chemicals sectors have been transporting it for “a long time — it’s not new, it’s just expensive.”

Expanding on his point, Douglas said getting production costs down is key. The lower those are, the more manageable transportation costs would become.

“I’m not sure if there’s any sort of magical … cost reduction technology that’s going to come into the transportation side of the equation,” he added.

“We’re not suddenly going to find … a better material to ship hydrogen through,” he said.

“If you’re liquefying it, you have to get it very cold, and that’s just expensive,” he went on to add. “If you’re turning it into ammonia, there’s a cost in there, and then there’s a bunch of challenges around toxicity.”

“They know how to do all of these things,” he went on to conclude. “It still just comes down to cost.”

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Tesla now offers discounted financing on Cybertruck as the truck turns out to be a flop

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March 6, 2025

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Tesla now offers discounted financing on Cybertruck as the truck turns out to be a flop

Tesla has started to offer discounted financing on Cybertruck as the electric pickup truck undoubtedly turns out to be a flop.

Tesla claimed over 1 million reservations for the Cybertruck, and CEO Elon Musk said he could see Tesla producing 500,000 units per year.

However, that was before Tesla announced that the production version would be much more expensive and have a shorter range than what was initially announced.

The Cybertruck has now been in production for a year and a half, and it looks like Tesla would be lucky to sell about 10% of Musk’s goal of 500,000 units.

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The automaker doesn’t report Cybertruck sales, but it is estimated that Tesla delivered roughly 40,000 Cybertrucks in 2024, and it is expected to have even more issues selling the truck this year.

Tesla has taken several steps to help sales.

We reported that Tesla launched Cybertruck leases to help move vehicles. The company is even still tucked with “Foundations Series” Cybertrucks, and we found out that Tesla buffed “Foundations Series” badges out of some trucks to sell them as cheaper regular Cybertrucks.

For the remaining “Foundations Series,” which there still are despite Tesla switching to regular Cybertruck production in October, Tesla has even offered free Supercharging for life.

Now, Tesla is stepping up its game, and it is offering discounted financing on new Cybertruck orders:

Tesla announced 1.99% APR for a limited time:

1.99% APR available for a limited time for well-qualified buyers

WIthout the “promotion”, the rate for excellent credit is 5.84%.

While Tesla is discounting the rates, it is not discounting them as much as for new Model 3 orders.

We reported earlier this week that Tesla offers 0% and 0.99% with $0 down on new Model 3 orders in the US until the end of the quarter.

Electrek’s Take

It is very possible that Tesla can’t sell more than 10,000 Cybertrucks this quarter, which would extrapolate to 40,000 units per year or less than 10% of what Elon said he would see Tesla delivering.

Now, the cheaper single motor Cybertruck should help, but by how much? It could bring Tesla to 20-30% of the volume Elon saw possible?

I think it’s fairly clear that the Cybertruck is a flop.

Tesla launched a single new vehicle in the last 5 years and it is a flop.

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Toyota launched its cheapest EV in China and it crashed the server starting at just $15,000

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March 6, 2025

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Toyota launched its cheapest EV in China and it crashed the server starting at just ,000

Toyota-cheapest-EV-China

Toyota looks to grab a bigger share of the world’s largest EV market as it takes aim at BYD and other low-cost leaders. On Thursday, Toyota launched its cheapest EV in China, the bZ3X, starting at roughly $15,000. The new electric SUV crashed the server with over 10,000 orders in an hour.

Meet Toyota’s cheapest EV in China, the bZ3X

The bz3X is Toyota’s “first 100,000 yuan-level pure electric SUV” in China and its cheapest EV to hit the market so far.

Toyota’s Chinese joint venture, GAC-Toyota officially launched the “Bozhi 3X,” or bZ3X for short, in China on March 6. Shortly after, the company said orders for its new electric SUV were “so popular that the server crashed” after revealing prices start at just over $15,000 (109,800 yuan).

After securing over 10,000 orders in just one hour, Toyota boasted again that “the server is overwhelmed.” The launch comes after blind pre-orders opened in December, starting at just under $14,000 (100,000 yuan).

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The bZ3X is available in two versions, with or without its full-scenario smart driving tech. The non-smart tech model starts at 109,800 yuan ($15,000) with five trim options while the smart driving model starts at 149,800 yuan ($20,500).

Toyota-cheapest-EV-China-bZ3X
Toyota launches its cheapest EV in China, the bZ3X (Source: GAC-Toyota)

For 159,800 yuan ($22,000), the range-topping “610 Max” trim provides up to 610 km (379 miles) CLTC range from a 67.92 kWh LFP battery. The base “430 Air” gets up to 430 km (267 miles) from a 50.03 kWh LFP battery pack.

Toyota said the interior provides “a mobile space that is comfortable as home,” with front and rear seats that can fold down to provide nearly 10 feet (3 meters) of space.

Inside, the electric SUV has a 14.6″ infotainment screen with voice recognition and an 8.8″ driver display. It also includes a two-spoke multi-function steering wheel.

Toyota’s new bZ3X is its first vehicle with the Momenta 5.0 Intelligent Driving System. Powered by NVIDIA Drive AGX Orin X, it comes with 25 ADAS features, such as parallel parking, remote control parking, high-speed pilot, light traffic assist, and blind spot monitoring.

Toyota-bZ3X-SUV-pre-orders
Toyota-bZ3X-SUV-pre-orders

GAC-Toyota claimed it will be “one of the first automakers in the world to realize a one-stage end-to-end intelligent driving model.” With human-like intelligence, the vehicle “gets smarter and better with use.”

At 4,600 mm long, 1,875 mm wide, and 1,645 mm tall, Toyota’s cheapest EV in China is about the size of BYD’s Yuan Plus (Atto 3) at 4,455 mm long, 1,875 mm wide, and 1,615 mm tall. Starting at 115,800 yuan ($16,000), Toyota’s new bZ3X slightly undercuts BYD’s electric SUV.

What do you think of Toyota’s new electric SUV? Would you buy one for around $15,000? We’ll keep dreaming.

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New cars from Volvo, VW, Cadillac, and more – plus 0% on Model 3 as Tesla sales fall

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March 6, 2025

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New cars from Volvo, VW, Cadillac, and more – plus 0% on Model 3 as Tesla sales fall

It’s been a big day for big reveals with the all-new Volvo ES90, a new compact electric city car from Volkswagen, plus a pair of new, over-the-top EVs from General Motors that perfectly exemplify American excess. All this and maybe the dawn of the long-awaited “Tesla Killer” on today’s revealing episode of Quick Charge!

GM is practically daring the competition to build a bigger, badder EV with a new, bigger $133,000 Cadillac Escalade and 1,100 hp off-road special in the form of the new Chevrolet Silverado EV ZR2. Finally, you guys are never happy … try to enjoy this episode, anyway!

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple Podcasts, Spotify, TuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

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Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.

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