Posted on 06 Nov 2024
Shenzhen-listed Sichuan Shudao Equipment &Technology has recently signed a hydrogen cooperation agreement with Japanese automaker Toyota, Kallanish Power Materials learns.
According to a statement from Shudao, the companies plan to jointly carry out in-depth cooperation in the fields of fuel cells; hydrogen storage and production; refuelling stations; and hydrogen-distributed power generation. The collaboration will also include financing to promote green transportation, energy conservation and emission reduction, seeking win-win results.
Shudao Equipment &Technology and its affiliation Shudao Investment, the cooperation partners Toyota and its affiliation Toyota Investment will form a joint venture mainly for fuel cell R&D and production. The JV will be owned 50-50.
They plan to launch the first phase of fuel cell power system production lines in Chengdu, Sichuan province, and then start the second phase depending on market demand and technology progress.
Shudao and its affiliates will use their experience and resources in heavy-duty vehicles to support the promotion of hydrogen-powered products to be launched by the JV. They are yet to disclose further details on a development timeline and potential launches.
Source:Kallanish Power Materials
