Globenewswire·2026-01-09 07:00Core Insights - FORVIA has announced a minority investment in its hydrogen-focused subsidiary, FORVIA Hydrogen Solutions China, through a capital increase of RMB 300 million (approximately €40 million) with Sinopec Capital as a strategic partner [1][2] Group 1: Partnership and Strategic Positioning - The partnership with Sinopec Capital enhances FORVIA's position in the rapidly growing hydrogen market in China, which is supported by favorable government policies [2] - Sinopec Capital's involvement is expected to facilitate access to key government contracts and create industrial synergies for FORVIA Hydrogen Solutions [2][6] Group 2: Market Dynamics and Growth Potential - China's hydrogen energy sector is a national priority, integrated into the national energy management system, and aims to accelerate industrialization [3] - In 2024, China produced 36.5 million tons of hydrogen, a 3.5% increase from 2023, primarily for chemicals, with expanding applications in transport and steel [4] - China is the largest market for hydrogen fuel cell vehicles, with over 30,000 units sold and 559 refueling stations established, targeting 500,000 hydrogen vehicles by 2030 [4] Group 3: Value Creation and Future Outlook - The collaboration with Sinopec Capital is expected to create a clear roadmap for accelerated growth and value creation for FORVIA Hydrogen Solutions China through an optimized supply chain [5] - FORVIA aims to improve cost competitiveness and solidify its leadership in hydrogen solutions globally, contributing to China's energy transition [6][7] Group 4: FORVIA's Presence in China - As of December 2024, China accounts for 21% of FORVIA's global sales, approximately €5.9 billion, making it a strategic market for the company [8] - FORVIA operates 67 plants and 27 R&D centers in over 30 cities in China, employing more than 30,700 people, including 3,000 in R&D [8] - The company collaborates with over 40 international and Chinese OEMs, positioning itself as the 5th largest automotive supplier in China, where EV penetration is projected to reach 45% by 2030 [8]