Electric-powered cars are no longer new, but rather a slowly rising trend that could very well become the new norm in many of our lifetimes. But is this really the only source of energy when it comes to cars and transportation? Well according to some startups, the answer to this question is a firm no, as they believe this is completely possible. For example, the South Korean conglomerate the “SK Group” planning a $1.5 billion investment into a joint venture with Plug Power (PLUG) to expand hydrogen energy in Asia.
Plug Power is a company that has been around for over a decade and has aimed to boost hydrogen energy as a power source. The ramification of this joint venture was immensely positive for Plug Power with the stock gaining 30% in a day, the highest levels seen since December 2007.
This was a few months ago, but today, some bigger players are joining the field. Recently, GM announced a deal with Liebherr-Aerospace to create a hydrogen fuel cell power generation system for aircraft and freight locomotives. Moreover, GM has more hydrogen power-related agreements occurring with companies like Navistar, Nikola, and the U.S. military. Clearly, Hydrogen power is something that could be coming, not only to the streets with cars but in other forms of transport and the economy. Do you think hydrogen power will fulfill these aspirations? Or will it fall flat?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.