SinoHytec has signed a deal to supply 500 fuel cell engines and related equipment to Yutong, a manufacturer of light and heavy-duty trucks based in Zhengzhou, China, over the next year.
The contract is expected to significantly increase the use of SinoHytec’s fuel cell engines in the trucking industry.
As of September, only 709 hydrogen-powered vehicles were equipped with SinoHytec’s engines, according to the company’s website.
SinoHytec expects the deal to have a positive impact on its future performance, improve competitiveness, and increase brand awareness.
The company has launched a secondary offering on the Hong Kong Stock Exchange, which could raise up to HKD1.3 billion (about $166.8 million).
Read the most up to date Fuel Cell and Hydrogen Industry news at FuelCellsWorks
Read the most up to date Fuel Cell and Hydrogen Industry news at FuelCellsWorks
