Faurecia, one of the world’s leading automotive technology companies, has been awarded a contract by SAIC to provide hydrogen tanks for a large fleet of commercial vehicles.
This latest award from the largest automobile manufacturer in China enables Faurecia 1 to confirm an order intake of over €250 million lifetime sales to date, on track with the objective to reach the target of €500 million order intake in 2021 for zero-emission hydrogen solutions.
Patrick Koller, Chief Executive Officer of Faurecia, said, “This recent contract from SAIC is our first award in China since the acquisition of a majority stake in CLD. The growth of our fuel cell system business, both in volume and across markets, confirms our vision and strategy for hydrogen mobility. It is also a recognition of our technology and industrial leadership in hydrogen solutions.”
Alongside this latest award for SAIC, Faurecia and Symbio, its joint venture with Michelin, will equip light commercial vehicles, buses, and commercial vehicles for Safra and Stellantis with fuel cell stacks and hydrogen storage systems. Starting deliveries this summer and over a four-year period, Faurecia will also equip around 1,600 Hyundai heavy-duty trucks that will be delivered to Hyundai Hydrogen Mobility in Switzerland. Faurecia and Renault also announced earlier this year their intention to collaborate on hydrogen storage systems for hydrogen light commercial vehicles.
Perfectly suited to commercial, heavy-duty, and on- and off-road vehicles, as well as high-horsepower engines, hydrogen mobility will play a key role in depolluting transportation and logistics. Mastering over 75% of the fuel cell value chain, Faurecia is well-placed to support growing demand for zero-emission hydrogen mobility solutions globally and become a world leader with sales of over €3.5bn1 in 2030.
1. With 100% of Symbio