Faurecia poised to gain from French hydrogen push

France’s 7 billion-euro ($8.3 billion) plan to use clean hydrogen in industrial processes and transport will cut the country’s carbon dioxide output in 2030 by the equivalent of the annual emissions of Paris, the government said.

A global race to scale up green hydrogen has begun, with Europe pushing the fuel as key to the bloc’s future energy mix. But producing clean hydrogen from water using renewable energy is currently costlier than extracting it from fossil fuels, requiring government subsidies to drive down costs.