Australian Mining Billionaire Reignites Feud With Elon Musk Over Hydrogen vs. Electric Batteries
In a recent revisit of their dispute, Andrew Forrest, the CEO of Fortescue Metals, hinted that Tesla chief Elon Musk is anti-hydrogen due to his heavy investment in electric batteries, a move that has drawn criticism from Forrest, who thinks that batteries are not the sole solution to climate change.
Forrest was speaking at the company’s annual meeting when a shareholder brought up his previous clashes with Musk. “You’ve touched a really, really raw nerve here,” Forrest replied, emphasizing that he believes hydrogen combined with batteries or fuel cells is the true solution.
The mining billionaire, who has aggressively defended hydrogen as a clean fuel source, suggested that Musk’s dismissal of hydrogen may be driven by profit motives rather than genuine concern for the environment.
Musk has repeatedly criticized the viability of hydrogen as a fuel source, calling it impractical and expressing disdain for fuel cells. However, Forrest has countered Musk’s comments, labeling those who doubt the future of hydrogen as “muppets.”
Investors have been supportive of Musk’s focus on electric batteries, propelling Tesla’s value to over $700 billion, while Fortescue has also seen its shares double, making the company worth over $50 billion.
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