Sinopec Capital, the investment arm of China Petrochemical Corporation (Sinopec), has injected CNY 300 million (about €40 million) into FORVIA Hydrogen Solutions China—FORVIA’s dedicated hydrogen subsidiary. Officially known as Faurecia Hydrogen Investment (Shanghai) Co. or FORVIA Hydrogen Solutions China, this fresh capital boost strengthens FORVIA’s balance sheet and also brings a heavyweight industrial partner into the world’s fastest-growing hydrogen production markets.
China’s hydrogen sector is charging ahead, fueled by ambitious national targets and industrial heavyweights. In 2024, China produced 36.5 million tons of hydrogen, up 3.5% from 2023, mainly for chemicals, with growing use in transport and steel.
It is the world’s largest market for hydrogen fuel cell vehicles, with over 30,000 sold, and has built 559 refueling stations. The roadmap targets 500,000 hydrogen vehicles by 2030 and over 1 million by 2035, supported by subsidies, toll exemptions, and lower hydrogen prices.
Ma Chuan, Member of FORVIA’s Executive Committee, Executive Vice President, Faurecia China President, commented, “This partnership will accelerate FHS China’s access to public and private markets, improve cost competitiveness, to be leader in hydrogen solutions worldwide and consolidate FORVIA’s position as a key player in China’s energy transition.”
“China is at the forefront of the global energy transition, and hydrogen is a key enabler of sustainable mobility. Partnering with Sinopec Capital, a leader in the hydrogen value chain, will strengthen our ability to deliver innovative solutions for the Chinese market.” underlined Sébastien Limousin, Executive Vice President, Forvia Clean Mobility.
“Sinopec is committed to becoming ‘China’s No. 1 hydrogen company’. Sinopec Capital and its Hydrogen New Energy Venture Capital fund will pursue equity investment partnerships with leading hydrogen enterprises around this goal. Through the investment in FHS China, we aim to further deepen business collaboration between our two groups, achieve win-win outcomes across multiple sectors, and contribute to the development of the global hydrogen industry,” said Ma Ming, Chairman of Sinopec Capital.
Tech Synergies
FORVIA excels in Type III/IV high-pressure composite cylinders (rated to 700 bar), built from carbon-fiber-reinforced resins that meet safety and durability standards. Sinopec brings upstream production prowess and a vast distribution network, including refueling infrastructure. Together, they target cost reductions via localized supply chains for carbon fiber and resins, unlocking government projects in heavy-duty transport and beyond.
