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News  ›  GlobeNewswire Inc.

FORVIA AND SINOPEC CAPITAL PARTNER TO ACCELERATE HYDROGEN GROWTH IN CHINA

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FORVIA AND SINOPEC CAPITAL PARTNER TO ACCELERATE HYDROGEN GROWTH IN CHINA

FORVIA announces a strategic partnership with Sinopec Capital, China's leading energy company, through a RMB 300 million (€40 million) minority investment in FORVIA Hydrogen Solutions China. The partnership aims to strengthen FORVIA's position in China's rapidly growing hydrogen market, which produced 36.5 million tons of hydrogen in 2024 and targets 500,000 hydrogen vehicles by 2030. China represents 21% of FORVIA's global sales at approximately €5.9 billion.

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Strategic partnership with major Chinese energy player strengthens market position in high-growth hydrogen sector; China is a key market representing 21% of global sales; partnership provides access to government contracts and industrial synergies in a government-backed priority sector.