Bosch plans to invest $528 million to develop components for hydrogen electrolysis, a technology that promises to speed adoption of so-called green hydrogen for use in transport and other sectors.
The world's largest auto supplier said Wednesday at its annual news conference that it hopes to start production of electrolyzer "stacks" in 2025, with the expectation that the market for the components will reach nearly $15 billion by 2030.
Each stack is made of several hundred connected cells; in each cell, electricity is used to split water into its hydrogen and oxygen components. In green hydrogen, the electricity for this purpose is generated by wind, solar and other renewable sources.