(Yicai Global) Oct. 27 -- Dongfang Electric Corp. [SHA:600875] (DEC) and an automaker from Chengdu recently rolled out a hydrogen fuel cell vehicle, DEC told Yicai Global.
This is the first fuel cell-powered urban vehicle that DEC developed.
The price of Dongfang Electric shares increased 6 percent yesterday on the news and rose further today.
The hydrogen fuel cell vehicle drives smoothly and makes little noise, and it produces nearly no emissions, said Dongfang Electric Group General Manager Zhang Xiaolun, calling it "a great achievement."
He hopes that the vehicle can become an emblem of China's fuel cell technology.
Dongfang Electric Group owns the intellectual property rights of this vehicle's power system, including the fuel cell power module, the motor and the controller.
A hydrogen fuel cell is an electrochemical cell that converts energy from hydrogen into electricity. Hydrogen fuel cells can operate very efficiently and produce energy with only clean water and heat as byproducts.