France-based automotive supplier Plastic Omnium and Shenergy Group subsidiary Zhejiang Rein Gas Equipment Co signed an agreement to set up a joint venture in Shanghai's Jiading Hydrogen Energy Hub on Jan 10.
The two sides also announced that they will manufacture and market type III and IV high-pressure hydrogen storage systems for the commercial vehicle market in China.
The joint venture will take advantages of Rein's competitiveness in manufacturing and transporting hydrogen and Plastic Omnium's leading high-pressure hydrogen storage bottle to help accelerate hydrogen development in China.
The first production base is scheduled to be launched this year, with its products hitting the market the same time. Meanwhile, the new company plans to build a world-class factory with an annual output of 600,000 IV high-pressure hydrogen storage bottles, which are expected to further improve the hydrogen sector in Jiading.
Jiading has been speeding up the development of the hydrogen energy and fuel-cell vehicle industry in recent years. The Hydrogen Energy Hub in the district currently houses 80 plus key enterprises in the sector.
In addition, the company plans to build itself into a national fuel cell demonstration center and a leading fuel cell automobile industry cluster in China.