Faurecia, one of the world’s leading automotive technology companies, announced today that it has acquired a majority of CLD, one of China’s largest high-pressure tank manufacturers. The transaction will be completed once regulatory approvals are obtained in China.
Mathias Miedreich Faurecia Clean Mobility EVP said, “CLD is the right partner for Faurecia to accelerate hydrogen mobility in China. By 2030, China will represent a market of at least one million fuel cell vehicles. Through our complementary technologies and industrial expertise, we will further develop CLD’s leadership.”
Mrs Jiang Jiang Chairman of CLD said, We are very pleased to welcome Faurecia, one of the global leading technology companies, through its investment in CLD equity. We believe that by joining the strengths of both parties, Faurecia_CLD will become one of the major fuel cell tank manufacturers in China.”
As hydrogen mobility rapidly gains momentum, the Group is now uniquely positioned to develop hydrogen storage systems and distribution services as well as fuel cell systems (through Symbio, a joint venture with Michelin). This scope represents 75% of the full system value chain. By 2030, Faurecia forecasts the annual hydrogen vehicle production to be two and half million vehicles. Faurecia is committed to continue to invest significantly with the ambition to become a world leader in hydrogen mobility.