Forvia, France’s first and the world’s seventh-largest automotive technology supplier, announces the minority investment in Forvia Hydrogen Solutions China, its hydrogen-focused subsidiary in China, by a strategic local investor through a capital increase of RMB 300 million (≈ €40 million). Sinopec Capital, China’s leading energy and chemical company and a major player in the hydrogen value chain, will join as an industrial partner, through its subsidiary Chaoyang Hydrogen New Energy Venture Capital fund.

According to Forvia, bringing in a major player like Sinopec Capital, the leader in China’s hydrogen value chain, strengthens Forvia Hydrogen Solutions’ position and open doors to key government contracts and industrial synergies.

Dynamic Chinese hydrogen market

The hydrogen energy sector has become a national priority in China, integrated into the national energy management system, alongside gasoline and natural gas, to speed up industrialisation. 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 refuelling stations. The 2025 roadmap targets 500,000 hydrogen vehicles by 2030 and over 1 million by 2035, supported by subsidies, toll exemptions, and lower hydrogen prices. These advantages create growth and innovation opportunities for Forvia Hydrogen Solutions China and Forvia.

Thanks to this partnership with Sinopec Capital, Forvia Hydrogen Solutions China (FHS China) sets a clear roadmap for accelerated growth and value creation through an optimised supply chain – including carbon fibre, resins, etc.

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 at 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.

Long-time partner

In March 2024, Forvia held the opening ceremony of Forvia (Shanghai) Hydrogen Solutions Holding Co., Ltd. in Jiading District, Shanghai. Forvia said that with the establishment of the new entity, it will further expand its hydrogen energy business in China, promote the research and development and production of hydrogen storage system product portfolios, and work closely with the upstream and downstream of the domestic hydrogen energy industry chain.

Forvia has been a partner to the Chinese automotive industry for more than 30 years. As of December 2024, China represented 21% of Forvia’s global sales, totalling approximately €5.9 billion, making it one of the group’s most strategic markets. The company operates 67 plants and 27 R&D centres across more than 30 cities, employing over 30,700 people, including 3,000 in R&D. Forvia collaborates with over 40 international and Chinese OEMs, positioning itself as the fifth largest automotive supplier in China.