Hydrogen for the automotive industry is developing more and more and is attracting the attention of the major groups of the sector. Faurecia, a French automotive equipment engineering and production group, is likewise interested in the hydrogen opportunity.
Over the past three years, Faurecia has invested more than €160 million in R&D, production, strategic partnerships and acquisitions for hydrogen mobility, with the aim of becoming a world leader in this sector. The French group is already strongly established in hydrogen and fuel cell storage systems through Symbio, a joint venture with Michelin.
Faurecia is thus developing the next generation of hydrogen storage systems for commercial and light vehicles, heavy goods vehicles and industrial applications. With a current production capacity of 10,000 tanks per year, the group’s ambition is to reach 100,000 tanks produced per year by 2025. This ambition is being put into practice through a development strategy targeting two markets in particular, Europe and Asia.
The European strategy:
In Europe, Faurecia relies on the major automotive leaders for its development on the hydrogen market. For instance, from the end of 2021, Faurecia will supply Renault with hydrogen storage systems for its first fleet of light commercial vehicles. Already anticipating an increase in production volumes, Faurecia is planning to build a new plant in France specifically to manufacture its hydrogen storage systems.
In parallel with Renault, Faurecia is also a partner of PSA and Hyundai and equips their commercial vehicles and trucks with its fuel cell systems.
The Asian strategy:
In Asia, Faurecia is also intensifying its hydrogen mobility strategy, particularly in China. To this end, in February 2021 the French group acquired a majority share of CLD, one of China’s leading manufacturers of high-pressure hydrogen tanks. By 2030, China will represent a market of at least one million fuel cell vehicles. Thanks to this partnership, Faurecia_CLD will become one of the leading manufacturers of hydrogen tanks on this fast-growing market.
By 2030, the global fuel cell systems market is expected to reach nearly €17 billion. Through these various strategies, Faurecia aims to become a world leader with a 20% share of this market. However, the market is highly competitive and a large number of stakeholders are actively involved in it.
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