Jiefang Forms R&D Joint Venture for Commercial Vehicles with Five Companies
According to the agreement, the primary business of the joint venture will be the development of fuel cell systems for commercial vehicles to contribute to the realization of a clean mobility society in China. Each company will invest in the joint venture. Dong Changzheng will be appointed chairman while Ryu Akita will be chief executive officer (CEO). The joint venture will be officially established in Beijing during this year, according to the agreement.
The six companies will engage in a series of technological R&D from components including FC stacks and FC system controls, to vehicle installation. By doing this, the time from development to commercialization will be substantially reduced, making it possible to accelerate the pace of popularization of FCEV in the Chinese commercial vehicle market.
The joint venture aims to facilitate the realization of a hydrogen-based society in China by developing and promoting fuel cell electric vehicles, and contribute to solving environmental issues including reducing CO2 emissions and easing air pollution and make its contribution to the formation of a better mobility society in China.
FAW is a leading global manufacturer of quality passenger cars, trucks, and buses. Established in 1953, the company is China’s oldest and largest automotive group. Annual sales exceed three million units.
Source : www.chinatrucks.com