Forvia Partners with Sinopec to Accelerate Hydrogen Development in China
Forvia has announced a 300 million yuan investment in its hydrogen subsidiary, FORVIA Hydrogen Solutions China, with Sinopec joining as an industrial partner through its Chaoyang Hydrogen New Energy Venture Capital Fund. This collaboration aims to enhance Forvia's presence in China's growing hydrogen market, which produced 36.5 million tons in 2024, and aligns with the country's roadmap to significantly increase hydrogen vehicle numbers by 2035.
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Forvia has announced a 300 million yuan (approximately 40 million euros) capital increase in FORVIA Hydrogen Solutions China, its hydrogen-focused subsidiary, with a strategic local investor joining the project. Sinopec, a leading Chinese energy and chemical company, will participate as an industrial partner through its subsidiary, Chaoyang Hydrogen New Energy Venture Capital Fund.
In 2024, China produced 36.5 million tons of hydrogen, reflecting a 3.5% increase from 2023, primarily for chemical use. China leads the global market for fuel cell vehicles, with over 30,000 units sold and 559 refueling stations.
The 2025 roadmap aims for 500,000 hydrogen vehicles by 2030 and over one million by 2035, supported by subsidies and reduced hydrogen prices. This partnership aims to strengthen Forvia's market presence and create growth opportunities in the rapidly evolving Chinese hydrogen sector.
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