BMW will receive 1.4 billion euros from the European Union for the development of hydrogen cars as part of the state aid package Hy2Move. Other grant recipients include Michelin and Airbus. The seed funding is expected to attract an additional 3.3 billion euros of private investment.
The Hy2Move package is part of the EU's efforts to achieve carbon neutrality by 2050 and supports hydrogen energy projects recognized as important for the common European interest (IPCEI). Other IPCEI projects include semiconductors and batteries for electric vehicles.
Details of the BMW project and the amount of funding will be announced after final approval of the package. BMW supports hydrogen fuel cell technology and has already launched a pilot fleet of hydrogen SUVs from the X5 model.
The iX5 model is equipped with a hybrid propulsion system based on fuel cells and batteries. The power of the power tract is 401 hp, and the mileage is 504 km according to the WLTP cycle. So far, BMW has not announced the series production of the iX5. The Hy2Move grants will be funded by the efforts of seven EU countries and should create 3,300 jobs by 2031.