October 31, 2018 11:22 CET
Great Wall Motor signed a memorandum of understanding to invest in H2 Mobility Deutschland, a German operator of hydrogen fueling stations that is a joint venture between six European companies, including Daimler.
By becoming a shareholder in H2 Mobility, Great Wall said it would be able to tap the company’s expertise in hydrogen fueling infrastructure and construction, and the commercialization of fuel cell vehicles in China.
Great Wall signed the memorandum with H2 Mobility at an international conference on hydrogen-powered fuel cell vehicles held last week in the east China city of Rugao.
The Chinese company did not disclose the amount of capital it intends to invest in H2 Mobility.
H2 Mobility, based in Berlin, is a joint venture between six European companies — French industrial gas provider Air Liquide, Daimler, German forklift truck maker Linde Material Handling, Austrian energy group OMV, Anglo-Dutch oil giant Shell and French oil giant Total. It is also partly funded by the German government and the European Commission.
It operates most of the 50-strong public hydrogen stations in Germany, according to H2 Mobility. The company aims to expand the network in Germany to include 400 stations by 2023.
Great Wall is one of the few Chinese automakers that have started developing fuel cell vehicles.
In June, the company opened a fuel cell vehicle tech center at its headquarters in the north China city of Baoding. In April, it acquired a 77 percent stake in Shanghai Fuel Cell Powertrain, a Shanghai-based fuel cell battery maker.
Great Wall plans to complete the development of a fuel cell vehicle prototype in 2020 and demonstrate a small fleet of fuel cell vehicles at the Winter Olympics in the north China city of Zhangjiakou in February 2022.
In the first nine months of the year, Great Wall, headquartered in the north China city of Baoding, delivered 676,668 crossovers, SUVs, pickups and sedans, a drop of 4.1 percent from a year earlier.
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