(Yicai Global) Jan. 17 – Chinese motor manufacturer Zhongshan Broad-Ocean Motor aims to develop hydrogen-based refueling for new energy vehicles in the country following a EUR6.5 million (USD7.97 million) investment in German firm Hydrogenious Technologies GmbH, the company said in a press briefing today.

The Guangdong-based company will use resources from HT to help build China's first hydrogen refueling station for NEVs in 2019 following its purchase of a 10 percent stake in the firm.

HT, founded in 2013 and headquartered in Erlangen, Germany, owns world-leading hydrogen energy storage and transport technologies, Broad-Ocean Motors said. Bringing in its technologies can significantly lower the cost of hydrogen transport in China and boost the application of hydrogen fuel batteries in the new-energy vehicle industry.

Broad-Ocean Motor previously looked overseas for technological support in 2016, when it invested USD28.3 million in Canada's leading fuel battery manufacturer Ballard Power Systems Inc., makingit  the firm's largest shareholder with a 9.9 percent stake.