Fuel cell inventory, such as Plug Power (plug)-Get report Ballard (Low-density polyethylene)-Get reportAccording to the news, Plug Power and Renault (Renault) have cooperated to build European hydrogen-powered trucks and continued to rise on Wednesday.
In addition, Truist launched a report on Plug Power on Tuesday, giving it a buy rating and a target stock price of $60. Investors are investing money in electric vehicles and related stocks.
Plug Power recently traded at US$67.45, a 2.2% increase.Ballard Power rose 3.2% to $35.47; and FuelCell Energy (Phil)-Get report It closed at $1
As for the Plug-Renault agreement, the two companies agreed to establish a 50-50 joint venture to focus on vehicle systems based on hydrogen fuel cells. The joint venture will include the establishment of a fuel cell stack and system manufacturing center in France for integration into a light commercial vehicle platform.
The joint venture will begin commercialization of fuel cell light commercial vehicles in Europe in 2021 and deploy pilot fleets.
As for Truist, according to Bloomberg, it stated that Plug Power can turn the bumps in hydrogen-powered vehicles into actual orders and profitability in the next three years.
Ballard Power continued to benefit from Tuesday’s news. The company received a purchase order from Arcola Energy for its Ballard FC move-HD fuel cell module, which will power the passenger train scheduled for demonstration in November.
The Scottish transportation company Scottish Enterprise and the University of St Andrews-based hydrogen accelerator company named Arcola is an alliance of industry leaders in the fields of hydrogen fuel cell integration, railway engineering and functional safety, aiming to deliver Scotland’s first hydrogen-powered train.