(Yicai Global) Dec. 7 -- Guangzhou has unveiled a three-year plan to make the southern Chinese city a leading domestic hub for the production and use of hydrogen-powered vehicles.

The capital of Guangdong province aims to have a fuel cell vehicle industry worth CNY10 billion (USD1.4 billion) by 2025, according to the plan the local government released yesterday. Guangzhou should also have no fewer than 2,500 FCVs in use by 2025, per the plan. 

The city aims to establish itself as a leading domestic development and manufacturing hub for FCVs, covering the whole industry chain from core parts to vehicle assembly. At least five local firms should have entered the top five nationally in their respective hydrogen-related fields by then.

Regarding infrastructure, the plan shows the city is looking to have a stable supply capacity of 40,000 metric tons of hydrogen before 2026, with three-quarters of that produced locally. Guangzhou also aims to build a wide network of 50 hydrogen refueling stations by 2025.

The city is not alone, as at least 22 provinces and municipalities in China have revealed development plans in the emerging clean transport field. They include the Beijing-Tianjin-Hebei region and Shanghai, as well as the provinces of Guangdong, Hebei, and Henan.

China’s hydrogen transport industry is still in the early stages, as the number of such vehicles tallies just a little over 10,000. But that may exceed 10 million by 2030, driven by technology development and economies of scale, Guotai Junan Securities said in a recent report.

Editors: Tang Shihua, Emmi Laine, Xiao Yi