FORVIA and Sinopec Capital partner to accelerate hydrogen growth in China
FORVIA announces the minority investment in FORVIA Hydrogen Solutions China, its hydrogen-focused subsidiary in China, by a strategic local investor through a capital increase of RMB 300 million (approx. EUR 40 million).
Sinopec Capital, China’s leading energy and chemical company and a major player in the hydrogen value chain, will join as an industrial partner, through its subsidiary Chaoyang Hydrogen New Energy Venture Capital fund.
The signing ceremony of establishing partnership between FORVIA Hydrogen Solutions China and Sinopec Capital.
This transaction reinforces FORVIA’s commitment to optimizing its presence in the Chinese fast-growing hydrogen market, which is strongly backed by government policies. Bringing in a major player like Sinopec Capital strengthens FORVIA Hydrogen Solutions’ position and open doors to key government contracts and industrial synergies.
“This partnership will accelerate FHS China’s access to public and private markets, improve cost competitiveness, to be leader in hydrogen solutions worldwide and consolidate FORVIA’s position as a key player in China’s energy transition,” commented Ma Chuan, Member of FORVIA’s Executive Committee, Executive Vice President, Faurecia China President.
Thanks to this partnership with Sinopec Capital, FORVIA Hydrogen Solutions China sets a clear roadmap for accelerated growth and value creation through an optimized supply chain (including carbon fiber, resins, etc).
The hydrogen energy sector has become a national priority in China, integrated into the national energy management system, alongside gasoline and natural gas, to speed up industrialization. The 2025 roadmap targets 500,000 hydrogen vehicles by 2030 and over 1 million by 2035, supported by subsidies, toll exemptions, and lower hydrogen prices.
“Sinopec is committed to becoming ‘China’s No. 1 hydrogen company’. Through the investment in FHS China, we aim to further deepen business collaboration between our two Groups, achieve win-win outcomes across multiple sectors, and contribute to the development of the global hydrogen industry.” said Ma Ming, Chairman of Sinopec Capital.
