Global hydrogen car sales have remained in decline for the last two years, with their lowest level being achieved in 2024. This notwithstanding, Toyota remains optimistic about the future of hydrogen cars and is aggressively pursuing opportunities, including rumored plans to launch the Toyota Mirai in Indonesia before 2030.
Also read: Indonesia Launches Hydrogen Roadmap, Toyota Welcomes It!
Global Hydrogen Car Sales Drop in 2024
In 2024 through January to December global hydrogen car sales saw a drop to 12,866 units which is a 21.6% drop from what we saw in 2023 at 16,413 units.
That which had seen a peak in 2022 at 20,704 units has been in decline ever since and that is to say the market for these vehicles is still very much a challenge.
Toyota’s Response: Stay the Course
Indra Chandra Setiawan, Engineering Management Division at PT Toyota Motor Manufacturing Indonesia (TMMIN), confirmed the recent sales drop but remains optimistic. He believes there’s still opportunity for hydrogen vehicles, much like what was seen in the early days of electric cars.
“Yes, it’s true, the data shows that there has been a slowdown in sales,” Indra said during a session in Karawang, West Java.
He detailed that electric vehicle (EV) success is a story of scale. At first battery prices were over $1,000 per kWh which was very high, but we have seen great drops in price in recent years in particular with the introduction of LFP (Lithium Iron Phosphate) batteries out of China. These batteries which use iron as a base as opposed to nickel, manganese and cobalt have brought the price down to $100 per kWh.
Also read: Future of Hydrogen Cars in Indonesia: Thousands Expected by 2030
Hydrogen Still Faces High Costs
Indra admitted that hydrogen fuel remains expensive, which contributes to the current sales slowdown. However, Toyota is not giving up and is pivoting to alternative strategies, such as focusing on heavy-duty hydrogen vehicles for commercial transport — a segment where hydrogen might prove more effective than batteries.
“If one road is a dead end, we look for another. The technology — the fuel cell stack — is the same. So we can pivot to hydrogen for heavy-duty use,” Indra added.
Toyota Mirai: Arriving in Indonesia Before 2030
Toyota Indonesia has not precluded introducing hydrogen cars domestically. In fact, there are plans within to make available the Toyota Mirai — their best-selling hydrogen sedan — in Indonesia by 2030 or earlier.
This is in line with the interest of the government to build hydrogen infrastructure and complements national aspirations for cleaner energy substitutes.
Key Highlights
- Global hydrogen car sales dropped 21.6% in 2024 to 12,866 units.
- Peak sales occurred in 2022 with 20,704 units, then declined.
- Toyota remains committed to hydrogen despite falling demand.
- Battery prices dropped due to China’s LFP battery tech, reducing EV costs.
- Hydrogen fuel is still expensive, slowing its growth.
- Toyota is exploring hydrogen for heavy-duty transport as an alternative market.
- Toyota Mirai could launch in Indonesia before 2030.
Also read: Indonesia Set To Launch Its First Hydrogen Refueling Station
Conclusion
Although global hydrogen car sales have dropped, Toyota still believes in the potential of hydrogen technology. With ongoing developments and a focus on heavy-duty applications, hydrogen cars — like the Toyota Mirai — could still have a future in Indonesia by 2030.