(Yicai Global) Oct. 25 -- Car firm Great Wall Motor has bought a minority stake in H2 Mobility Deutschland, a German hydrogen station operator, to expand its expertise in the hydrogen fuel cell vehicles sector.
Great Wall Motor penned a memorandum of understanding with H2 Mobility to become its seventh shareholder with about 5 percent of equities, the Hebei province-based car firm said at the third International Hydrogen Fuel Cell Vehicle Congress 2018 yesterday at Rugao in eastern Jiangsu province.
"Great Wall Motor will work closely with H2 Mobility to jointly promote the hydrogen energy infrastructure in Europe, China and the world," said Tang Haifeng, the auto firm's vice president. The company will also facilitate the transition to hydrogen transport in Europe and China, he added.
Great Wall Motor will share the technical parameters of German hydrogen stations and operational data to raise its voice in planning the Chinese infrastructure, the firm said. Tang mentioned one of these potential projects, the Hydrogen Corridor, which will link up five cities with designated fuel stations in the Yangtze River Delta Region. The firm is also preparing for its fuel cell electric vehicles to enter the German market, he added.
Great Wall Motor has been investing heavily in hydrogen fuel vehicle technologies, and it bought 51 percent of Shanghai Fuel Cell Vehicles Power System's equities in August.
H2 Mobility has over 50 hydrogen fuel stations in operation in Germany and over 40 under construction. Its earlier investors include French multinational company Air Liquide, Daimler, German chemical firm The Linde Group, Austrian oil company OMV, British-Dutch oil and gas firm Royal Dutch Shell and French energy producer Total.
Editor: Emmi Laine