This is true but this analysis fails to consider why hydrogen receives so much interest, because similar reasoning could indicate we should be spending more on every other potential fuel source, including biofuels, and maybe running engines on cellulose.

And the fact that hydrogen is most popular in Germany and Japan should provide a clue.

These are countries with well established ICE car industries and therefore shifting to hydrogen provides the least disruption when it comes to their car manufacturing as well as infrastructure.

The disproportionately high interest in hydrogen is likely not being driven because of a belief in its future success, but likely more as a hope to continuing the status quo.