• Bhatt Subhash Sushil
• Nishant Kumar
• Prince Kumar
• Md Shohanuzzaman Sumon
• Shivam S. Verma

Governments across the globe are trying their best to be more and more carbon neutral. One known way to it is Hydrogen Economy, where clean power can be produced with zero emissions. Transportation sector being one of the major contributor in the greenhouse gases, it is impossible to cut noticeable carbon footprints without its being carbon neutral. So there is a sheer requirement of Automobiles to be carbon neutral which is leading the automobile sector to other clean alternative fuel like hydrogen. Hydrogen Fuel Cell Vehicles is the initiative taken by certain automobile manufacturers and governments of respective countries is supporting the initiative by giving subsidies and other incentives to the end user. India being a piece sensitive market for automobiles, this paper will help: manufacturers to price their product and provide schemes accordingly; government to decide subsidies so that HFCV can be competitive to other BEV and ICEV; people to analyze the life cycle cost of all three products without any hypothetical subsidy. Using a trend analysis model this paper analyses the future cost of fuels like petrol, diesel and electricity and the cost associated of each fuel in lifecycle of the respective vehicle. For calculation of hydrogen prices, a well to wheel model, which is constructed taking Indian scenario in mind, is used. HFCV being a new technology, its lifecycle cost is more than BEV and ICEV, if we don’t take any manufacturer provided scheme and government provided subsidies into consideration. But if we will analyze other market, where free Hydrogen for certain amount of time is provided by manufacturers and there are government provided subsidies and incentives, Indian consumers would be very attracted toward this new segment of vehicles.

Economic, Economic Analysis, Hydrogen, Hydrogen fuel cell vehicle, battery electric vehicle, India

"Economic Analysis of HFCV, BEV and ICEV in Indian Context", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 5, page no.a173-a182, May-2021, Available :http://www.jetir.org/papers/JETIR2105021.pdf

"Economic Analysis of HFCV, BEV and ICEV in Indian Context", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 5, page no. ppa173-a182, May-2021, Available at : http://www.jetir.org/papers/JETIR2105021.pdf