Russia to invest $10 billion in FCEV technology

The Russian government plans to invest a total of 777 billion roubles (10.5 billion US dollars) in the development of battery and hydrogen vehicles by 2030. The goal is to have 1.5 million electric vehicles on Russian roads by that time, supported by 20,000 new charging stations.

The effort is a bit late, but all the more important, as in 2019, just 353 electric vehicles were sold in Russia, compared to 687 in 2020. In 2022, the share of electric vehicles in the Russian car market is expected to reach 1.7 per cent, which is almost 30 times more than in 2020 but still not exactly an impressive number. Officials from the Russian Ministry of Economic Development hope to grow the number of registered EVs on Russian roads from the current 0.05% to 15%. This would mean, that by 2030 there could be 1.5 million EVs on Russian roads, supported by 20,000 new charging stations.

A $5.5 billion plan to invest into EV development was announced last week, but media sources claim to have seen an updated version already with $10.5 billion set for investment. Of this sum, $1.7 billion would flow into the development of fuel cell and hydrogen technologies. Certainty about the plans, as well as the exact form of the funding programme, will probably only be known when the government officially presents the programme. The Russian reports do not indicate when this will happen.

“Leading automakers, globally and in Russia, are announcing new electric vehicle lines. A lot of them plan to stop making internal combustion engine cars by 2030,” said Ruslan Edelgeriev, climate adviser to President Putin. “In the next 20-30 years everyone will transition to electric vehicles”

The year 2030 was already discussed in Moscow, which plans to electrify their public bus fleet by then as well. Kamaz is also building a plant for electric buses in Moscow. There was also a plan for a Russian-made electric car to enter production, but the timeline for the Zetta has been pushed back further and further.

Source: The Moscow Times: – Chris Randell.

 

 

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