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Feasibility Study of Fuel Cell Vehicle Production

Badakhshian, Hamed | 2025

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  1. Type of Document: M.Sc. Thesis
  2. Language: English
  3. Document No: 58617 (51)
  4. University: Sharif University of Technology, International Campus, Kish Island
  5. Department: Science and Engineering
  6. Advisor(s): Rafiee, Majid; Mostafavi, Mostafa
  7. Abstract:
  8. The development of Fuel Cell Vehicles (FCV) is a significant new approach that addresses reduced reliance on fossil fuel, pollution and climate change, and sustainable transport in Iran. This is a technology that offers low emission and high efficiency by providing electricity from the reaction of hydrogen and oxygen, and could be a reinforcement of the transportation industry in the context of Iranian environmental and economic challenges such as limited fossil fuels, inflation, etc. The aim of this research is to investigate the economic feasibility of FCV production in Iran, and it will follow an applied and quantitative approach. The research methodology will be based on costs-benefit analysis, sensitivity analysis, and financial modeling using the Python programming language, which will address critical measures such as Net Present Value (NPV), Internal Rate of Return (IRR), payback period, breakeven point, and Life Cycle Cost (LCC). Data were gathered from secondary sources, including DOE and NREL reports, and scholarly articles, plus local assumptions for Iranian conditions (such as the exchange rate and inflation) were made. Capital costs (including tech components such as the fuel cell and hydrogen tanks) and operating costs (including maintenance and hydrogen fuel) were examined. The results show profitable project development in optimistic, realistic, and pessimistic approaches, illustrating positive NPV and IRR and relatively short payback periods (2-3 year). Sensitivity analysis also affirms project financial sustainability with varying discount rates and fuel price. However, infrastructure and supportive government policies (e.g., subsidized pricing and tax exemption) must be developed for the project to succeed. This study provides a wider framework for making decisions and policy making with respect to a clean technology in Iran
  9. Keywords:
  10. Economic Analysis ; Net Present Value ; Internal Rate of Return ; Life Cycle Cost (LCC) ; Hydrogen ; Environmental Sustainability ; Iran ; Fuel Cell Vehicles

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