Elon Musk, through this electric vehicle venture Tesla, Inc. (NASDAQ:TSLA) CEO, is credited with furthering the cause of the environment by providing an alternative to gas-guzzling vehicles. The Tesla CEO on Sunday chimed in with his views on which renewable energy source will see wider adoption.
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What Happened: Musk was responding to a quote tweet of an article published in Universal-Sci.com that delved into research by the University of Berkeley. The research concluded that a photovoltaic array that uses compressed hydrogen for energy storage is the best solution. The finding was based on a study of several methods to produce energy on Mars. Scientists favored hydrogen for storing surplus energy, as it can also be used to create ammonia for fertilizers when combined with nitrogen, the report said. The surplus electricity can be used to generate hydrogen from water and then be stored in pressurized vessels from which energy can be drawn at a later moment using fuel cells, according to the research.
Tesla CEO's Take: Musk took exception to this and suggested that this isn't true and that the world will choose batteries.
Not true. Overwhelmingly, the world will choose batteries.— Elon Musk (@elonmusk) May 2, 2022
Tesla manufactures battery energy vehicles. Fuel cell EVs are also currently used in conjunction with BEVs and are said to confer advantages such as extended range, heavy payloads, and flexibility. Among major OEMs, only Toyota Motor Corporation (NYSE:TM) and Hyundai Motor Company (OTC:HYMTF) had FCEV cars in production in 2021, according to IDTechEx. About 10,000 FCEV vehicles were sold in 2020 compared to 3 million units in 2020. Tesla closed Friday's session down 0.77% at $870.76, according to BenzingaPro data.
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