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Mining Billionaire Takes on Musk in Hydrogen Versus EVs Debate

  • Forrest looking to pivot his iron ore empire to clean energy
  • EVs still dominate over hydrogen fuel-cells in auto market
Fortescue’s Andrew Forrest
Fortescue’s Andrew ForrestPhotographer: Sergio Dionisio/Bloomberg

Iron ore billionaire Andrew Forrest is taking on Tesla Inc. CEO Elon Musk in his quest to promote green hydrogen as a game changer in the clean-energy transition.

Forrest, the founder of Fortescue Metals Group Ltd., doubled down this week on his criticism of Musk’s view that hydrogen cars are “mind-bogglingly stupid.” In a speech to Credit Suisse Group AG’s Asian Investment Conference on Wednesday, he said Musk had “every reason to fear them, and his description is perhaps better suited, in my view, to someone who peddles a battery technology as green when it runs on fossil fuel.”