Globenewswire·2026-01-09 07:00Core Insights - FORVIA has announced a minority investment in its hydrogen-focused subsidiary in China, FORVIA Hydrogen Solutions China, through a capital increase of RMB 300 million (approximately €40 million) with Sinopec Capital as a strategic partner [1][2] - The partnership aims to enhance FORVIA's position in the rapidly growing hydrogen market in China, which is supported by strong government policies [2][4] - China's hydrogen production reached 36.5 million tons in 2024, marking a 3.5% increase from 2023, with significant applications in chemicals, transport, and steel [4] Investment and Partnership - Sinopec Capital, a leader in China's hydrogen value chain, will provide industrial synergies and access to key government contracts for FORVIA Hydrogen Solutions China [2][6] - The collaboration is expected to accelerate growth and value creation through an optimized supply chain, including materials like carbon fiber and resins [5][6] Market Dynamics - The hydrogen energy sector is a national priority in China, integrated into the national energy management system alongside gasoline and natural gas [3] - China is the largest market for hydrogen fuel cell vehicles, with over 30,000 units sold and 559 refueling stations established [4] Strategic Goals - FORVIA aims to become a leader in hydrogen solutions globally and strengthen its position in China's energy transition through this partnership [6][7] - Sinopec Capital is committed to becoming 'China's No. 1 hydrogen company' and will pursue equity investment partnerships with leading hydrogen enterprises [7] FORVIA's Presence in China - As of December 2024, China accounted for 21% of FORVIA's global sales, totaling approximately €5.9 billion, making it a strategic market for the company [8] - FORVIA operates 67 plants and 27 R&D centers in China, employing over 30,700 people, including 3,000 in R&D [8]