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China's Weifu, Germany's Voith to Invest USD130 Million to Promote Development of Hydrogen Storage Equipment

February 26, 2024 at 12:44:06 AM

Chinese auto fuel injection system supplier Weifu High-Technology Group and German tech giant Voith Group have agreed to jointly invest a total of EUR120 million (USD130 million) by 2030 to drive the research, industrialization, marketing, and applications of high-pressure hydrogen storage equipment. Weifu and Voith will develop technologies to make 70-megapascal high-pressure hydrogen storage systems, achieve their industrial production, and expand their application scope, the Wuxi-based company announced yesterday, citing the memorandum of understanding the pair signed on the same day.

Voith entered the Chinese commercial vehicle market in 2000, Weifu noted. Voith's new-generation 70-Mpa high-pressure hydrogen system, which received the certification according to Regulation No. 134 of the Economic Commission for Europe of the United Nations, is mostly applied in medium- and heavy-duty commercial vehicles and non-vehicle scenarios, leading the world in terms of safety, efficiency, and light weight.

- Yicai Global -

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