Outlook on fuel cell technologies for automotive applications

Being the automotive sector a trillion dollar market and given the existence of multiple low carbon powertrain technologies and sunk investments in specific powertrains technologies, the possibility of "betting on the wrong horse" makes the transition to low carbon vehicles a very risky process for incumbent automotive companies (global automotive manufacturers and their tier one suppliers). Through these technology developments these incumbent companies are primarily trying to maintain or increase their captured added value of the automotive value chain and their global sales market share. For new entrants with no existing interests, the risks are lower given they are not compelled to capture most of the value of the powertrain technology, giving them the possibility of sharing it with other parts of the value chain (suppliers, technology developers etc.)