If you can generate the electricity onboard, you don't need as much battery storage capacity. So a FCEV will have a smaller requirement for battery materials.
We're seeing now rapid developments in Fuel cell heavy vehicles such as trucks and buses as there is more space to play with and a compromise in aesthetics is not an issue. Once the means to store enough hydrogen for 500-600 km of driving range for a passenger car become available, then you will see a mass shift to FCEVs.
This ignores the monstrous potential for industrial hydrogen requirements where the infrastructure is already in place and just crying out for a switch from SMR to the Hazer process.
The steel production angle is even more delicious as the iron ore input can serve as the catalyst as well as the raw material.
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