CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

PLUG stock climbs 4.5% on Edison Motors bus partnership

By William Hoffman

14:54, 16 December 2021

A hydrogen fuel cell bus
Plug Power and Edison Motors to build hydrogen fuel cell bus – Photo: Shutterstock

New York-based Hydrogen fuel cell developer Plug Power is gaining on the Nasdaq Thursday after announcing a partnership with Edison Motors to help build prototypes of a new fuel cell electric city bus.

The prototype is expected to be built in 2022 and Edison Motors intends to mass-produce the fuel cell electric buses and the new hydrogen fuel cell platform in 2023 in its home market of South Korea.

The announcement sent Plug Power’s stock as much as 4.5% higher to $32.79 per share on Thursday. Plug Power’s stock peaked as high as $75.49 per share back in January of this year but quickly fell back to lows of $18.47 per share by May.

Still, analysts see a lot of upside in the stock as the company rapidly expands its hydrogen fuel cell operations.

Smart buses

The hydrogen fuel cell bus, tentatively named SMART 110F, would join Edison Motors’ existing line of electric buses that run on South Korean streets.

In fact, Edison Motors said that for the second year in a row it sold the largest number of electric buses in Seoul while expanding its electric bus platform with the launch of a new intercity long-range electric bus platform.

As part of the partnership the companies seek to collaborate on more than just buses. Plug Power and Edison Motors intend to build other applications for the future of mobility including trucks, drones, vessels, and personal air vehicles (PAVs).

What is your sentiment on PLUG?

Vote to see Traders sentiment!


0.61 Price
+1.540% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168


2,034.68 Price
+0.870% 1D Chg, %
Long position overnight fee -0.0194%
Short position overnight fee 0.0112%
Overnight fee time 22:00 (UTC)
Spread 0.50


37,626.45 Price
+1.550% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

Oil - Crude

76.87 Price
+2.230% 1D Chg, %
Long position overnight fee -0.0211%
Short position overnight fee -0.0008%
Overnight fee time 22:00 (UTC)
Spread 0.030

Liquid hydrogen

Hydrogen fuel cell technology has not taken off with the same level of popularity that electric vehicles have, but more and more companies are exploring applications to replace diesel vehicles such as buses.

Morgan Stanley analyst Stephen Byrd just last month said that he is getting more bullish on Plug Power’s ability to grow its hydrogen production and electrolyser businesses (a process of breaking water down into hydrogen and oxygen) at a more rapid rate, due to continued cost reductions and growing customer demand, according to a note sent to

Plug Power also has an opportunity to capture market share as it reduces cost to drive greater sales, which in turn results in greater scale and lower per-unit costs, Byrd said.

An average of the 26 analysts covering Plug Power calls for a 12-month price target of $49.80 per share with a range of $38–$78 per share, according to Refinitiv data.

“Plug Power has a goal to expand our global footprint to stimulate the Asian hydrogen and fuel cell market,” Andy Marsh, CEO of Plug Power, said in the press release. “We acknowledge this is one of the fast-growing markets in the world and believe that this partnership with Edison Motors will pave the way to achieving global net zero.”

Read more: Plug Power (PLUG) stock forecast: Is it time to buy the dip?

Markets in this article

Plug Power Inc (Extended Hours)
3.69 USD
0.24 +7.100%
Plug Power Inc (Extended Hours)
3.69 USD
0.24 +7.100%

Rate this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 570.000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading