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  "documentTitle": "Ballard Power Systems (BLDP)",
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      "text": "The abysmal economics of refueling stations, even with a subsidy, will discourage any large-scale uptake",
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      "text": "Without paying any overheard or operating costs it would take 12.5 yrs to repay the investment (RMB 15m)",
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      "text": "Portable machines that can convert water to hydrogen are available and our investigators saw one in Yunfu. It was not in operation as you need to establish an operating area as you would for any chemical plant. While the plant is portable the infrastructure to use it in China is very expensive",
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      "text": "Hydrogen can be a dangerous gas to transport, costs are high and reliable supply is not assured",
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      "text": "If a bus fills up 24 kg each time at a cost RMB1,080 and assuming a gross margin of around 10% then a refueling station would make a gross margin of at most of RMB 3,240 per day (assuming 30 buses per day)",
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      "text": "Operating a hydrogen vehicle is more expensive than a diesel vehicle as the price of hydrogen is higher. We estimate that 70%-80% of the retail cost of hydrogen is the delivery cost",
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      "text": "Price RMB (6 vs 45), Consumption per 100 km (40 vs 7), Cost per 100 km RMB (240 vs 315)",
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