Six companies, including Toyota, FAW and BAIC, have registered and established joint fuel cell companies.

Published: Aug 21, 2020 15:10

Save

SMM News: learned from the heavenly eye that United fuel Cell system Research and Development (Beijing) Co., Ltd. was registered on August 20, with a registered capital of 1.673 billion yen.

United fuel Cell system Research and Development (Beijing) Co., Ltd. established business scope is the technical development of fuel cell system for commercial fuel cell vehicles using Toyota single cell; technical consultation, technical services, technology transfer; import and export of goods, technology import and export. (market entities independently choose business projects and carry out business activities in accordance with the law; projects that must be approved according to law shall carry out business activities in accordance with the approved contents after approval by relevant departments; business activities of projects prohibited or restricted by the industrial policy of the state and this city shall not be engaged in. )

According to Tianyan check information, the company's largest shareholder is Toyota Motor Company, with a subscription amount of 1.08745 billion yen, with a shareholding ratio of 65%, and the second largest shareholder is Beijing Yihuatong Science and Technology Co., Ltd., with a subscription amount of 250.95 million yen and a shareholding ratio of 15%. Beijing Automobile Group Co., Ltd., China first Automobile Co., Ltd., Guangzhou Automobile Group Co., Ltd., and Dongfeng Automobile Group Co., Ltd. all subscribed 83.65 million yen, with a shareholding ratio of 5%.

In fact, on June 5 this year, six companies, including BAIC, FAW, Dongfeng Motor, GAC GROUP, Beijing Yihuatong and Toyota Motor, signed joint venture contracts in Beijing to jointly fund the establishment of Joint fuel Cell system Research and Development (Beijing) Co., Ltd., with a total investment of 5.019 billion yen.

Zhang Xiyong, deputy secretary of the party committee and general manager of BAIC, once said that as a strong participant in new energy reform, BAIC is willing to communicate and explore the challenges and opportunities faced by Chinese cars with global partners with strategic vision, based on hydrogen technology breakthroughs, and strengthen innovative cooperation in the field of research and development. The newly established joint fuel cell system research and development company is such a high-quality platform for open cooperation. The new company integrates Toyota's top hydrogen fuel cell technology, Yihuatong's strong strength in system integration, and the manufacturing and market advantages of domestic automobile groups. It is believed that all parties will fully integrate resources and actively explore effective ways of technological innovation to jointly promote the green energy revolution that China and even the world is experiencing, so that hydrogen energy can enter the daily life of thousands of households in the near future.

Click to understand and sign up for the 2020 China Automotive New Materials Application Summit Forum.

Scan the QR code above to view the business cards of the participating companies and sign up online

Scan the QR code and follow the official account of Wechat, a new energy source of SMM, cobalt and lithium.

Toyota BAIC fuel cells

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

3 hours ago

[SMM Lithium Policy] Zambia Pushes for Pan-African Minerals Exchange, With Implications for Africa's Lithium Trade

Zambian Ministry of Mines is advancing a proposal for a pan-African minerals and metals exchange to give producer nations greater control over mineral trading and pricing. Adviser Jito Kayumba said the plan builds on Zambia's metals-trading tie-up with Mercuria and has already been discussed with the DRC and two undisclosed countries. For lithium, the move aligns with Zimbabwe's SC6 export controls and Mali's Goulamina ramp-up, and could eventually offer an alternative to CIF China spodumene pricing as African-origin volumes grow through ports like Walvis Bay and Beira. DRC's Manono project (targeting 1Mt/y spodumene) would also fall within scope. SMM view: Early-stage and non-binding no confirmed members, governance, or timeline. Relevant to watch for delivered-cost and netback benchmarking on Zimbabwe/Mali/DRC assets, but limited near-term pricing impact.

3 hours ago

Antora Energy Raises $550M for Thermal Battery Deployment in US Industrial and Data Center Markets

Thermal energy storage provider Antora Energy has closed a $550 million Series C funding round to accelerate deployment of its thermal battery systems for industrial facilities and data centers in the United States. While not a lithium-ion BESS, the raise is significant for the broader storage sector as it demonstrates investor willingness to fund alternative long-duration storage technologies. Antora’s systems store energy as heat and deliver both electricity and industrial process heat, addressing a segment of the market that electrochemical batteries cannot serve. The funding round, one of the largest for a non-lithium storage technology this year, signals growing diversification in the U.S. storage investment landscape beyond conventional battery chemistries.

3 hours ago

4 hours ago

[AfDB €100M Loan Backs Gotion's Morocco Battery Plant]

The African Development Bank Group (AfDB) has officially approved a €100 million (approximately $114 million) loan to Gotion Power Morocco, a subsidiary of Gotion High‑Tech, for the construction of the first lithium iron phosphate (LFP) battery gigafactory in Africa and the MENA region. As the lead arranger under the “New Architecture for Financing Africa's Development” (NAFAD) initiative, the AfDB also plans to raise up to an additional €141 million from partner financial institutions to ensure sufficient project funding. The project is located in Phase III of the Kenitra Atlantic Free Zone, in the Rabat‑Salé‑Kenitra region of Morocco, and covers the full industrial chain from cathode material production, cell manufacturing, to battery pack assembly. Phase I is planned with an annual capacity of 10 GWh for EV battery cells and packs; with subsequent phased expansions, the total capacity is expected to gradually reach 100 GWh in the long term. Phase I is projected to directly create more than 600 high‑skilled jobs and raise Morocco's local industrial integration rate to 70%, significantly boosting the local supplier ecosystem and technical workforce development. AfDB Vice President Kevin Kariuki noted that battery energy storage is the “missing piece” in Africa's clean energy transition. The plant will primarily operate on renewable energy (wind and solar power), which will not only support large‑scale grid integration of new energy but also provide low‑carbon and reliable energy storage solutions. Leveraging Morocco's abundant phosphate resources and China's advanced battery refining and manufacturing technologies, the project will accelerate the local high‑value‑added conversion of critical minerals, shifting away from the traditional export of raw materials. It will help Morocco establish itself as a green mobility industrial hub serving both Europe and the entire African continent. This investment is highly aligned with the AfDB's four strategic pillars: resilient infrastructure development, accelerated industrialization, regional integration, and value addition to natural resources. It marks a milestone in the improvement of Africa's new energy industrial chain.

4 hours ago