Forvia and Sinopec Collaborate to Advance Hydrogen Development in China
Forvia partners with Sinopec's Chaoyang Hydrogen New Energy Fund to boost hydrogen development in China, which produced 36.5 million tons in 2024. The country aims to increase hydrogen vehicle numbers to 500,000 by 2030 and over 1 million by 2035.
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Forvia has established a partnership with Sinopec, with the latter participating through its subsidiary, Chaoyang Hydrogen New Energy Venture Capital Fund. In 2024, China produced 36.5 million tons of hydrogen, a 3.5% increase from 2023, primarily for chemical applications and expanding use in transportation and steelmaking.
China is the largest market for fuel cell vehicles, having sold over 30,000 units and operating 559 refueling stations. The roadmap for 2025 aims for 500,000 hydrogen vehicles by 2030 and more than 1 million by 2035, supported by subsidies and reduced hydrogen prices.
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