Written by Cláudio Afonso | LinkedIn | X
Nikola shares are falling by 5 percent on Tuesday following the publication of an open letter signed by 120 academics, scientists, and engineers.
The letter criticizes the promotion of hydrogen vehicles by Toyota at the upcoming Paris Olympics, arguing that such vehicles hinder the transition to green energy. The US-listed Toyota shares are also trading lower (1.42 percent) as of the time of writing,
The signatories, including Professor David Cebon, Director of the Centre for Sustainable Road Freight, contend that green hydrogen-powered vehicles require three times more electricity than battery electric vehicles (BEVs) for equivalent usage. They assert that promoting hydrogen vehicles misleads the public about effective solutions for decarbonizing transport.
The letter, addressed to Thomas Bach, President of the International Olympic Committee, Tony Estanguet, President of the Paris 2024 Organizing Committee, and Pierre Cunéo, Director of Transport for Paris 2024, emphasizes that hydrogen-powered vehicles necessitate significantly more renewable electricity generating capacity. They also generate higher well-to-wheel CO2 emissions compared to BEVs.
“Hydrogen cars are not a viable net-zero solution,” the letter states, highlighting the high costs, poor availability of hydrogen fuel, and the rapid decline in global sales of hydrogen vehicles.
The authors point to the failed trials of hydrogen vehicles around the world, including during the Tokyo 2020 Olympics, as evidence of their inefficacy.
The letter urges the Olympic Committee to replace Toyota’s hydrogen Mirai with BEVs for the Paris 2024 Games, citing the broader industry and academic consensus that electrification is the most effective way to decarbonize the transport sector.
The promotion of hydrogen vehicles, they argue, could delay the roll-out of BEVs, which are more efficient and better aligned with global net-zero goals.
Toyota has announced plans to use 500 hydrogen fuel-cell Mirai vehicles and 10 hydrogen fuel-cell coaches to transport athletes and visitors during the Games. However, the letter warns that such promotion could damage the reputation of the Olympics and set back international efforts to reduce carbon emissions.
The letter concludes with a call for the International Olympic Committee to enforce the switch to BEVs for the Games, reflecting a commitment to scientific facts and effective climate solutions.
In the second quarter of the year, the company sold 72 units of its Class 8 Nikola hydrogen fuel cell truck with first half of 2024 sales reaching 112 units.
Nikola is also seeking more deals to supply its electric trucks. Wayfair is testing Nikola’s trucks in California, according to Anna Vinogradova, Head of Global Sustainability and ESG at Wayfair.
Last Thursday, Nikola announced that Walmart Canada has integrated the first Nikola hydrogen fuel cell electric semi-truck into its fleet. Walmart Canada is the first retail fleet in North America to operate a hydrogen fuel cell electric truck.
In a new interview for the “Future Says” podcast, Nikola’s Global Head of Supply Chain Management, Pedro Garcia, anticipated that additional safety regulations will be implemented, necessitating industry-wide compliance and adaptation.
Written by Cláudio Afonso | LinkedIn | X
