Shanghai (Gasgoo)- On January 10, Geely's Farizon New Energy Commercial Vehicle Group (Farizon Auto) signed an agreement with the People's Government of Bozhou city to establish a methanol-hydrogen ecosystem, marking the beginning of a strategic collaboration.
Both parties aim to invest across the entire industrial chain of the methanol-hydrogen sector. By leveraging Bozhou's existing foundation in new energy vehicles and components, biomass resources, and geographical advantages, this collaboration will focus on the coordinated development of green methanol production, methanol refueling infrastructure, and methanol-powered vehicles, thereby contributing to methanol-hydrogen industry ecosystem.
Bozhou Municipal Party Committee Secretary Du Yan'an stated, "As one of the nation's first carbon peak pilot cities, Bozhou is committed to building a clean and low-carbon energy system and fostering a green industrial structure. Bozhou currently focuses on developing new green growth sectors, with a particular emphasis on zero-carbon logistics, circular economy, and low-carbon transformation. With significant potential in the new energy commercial vehicle market, the city is an ideal partner for Farizon Auto. We anticipate that this collaboration will step up the establishment of the methanol-hydrogen ecosystem in Bozhou city."
Mr. Zhou Jianqun, CEO of Farizon Auto, highlighted that methanol, as a new type of clean and renewable energy, offers environmentally friendly, safe, economical, and sustainable characteristics. By following the methanol-hydrogen electric technological route, Farizon Auto aims to promote methanol electric technologies in the commercial vehicle sector.
Under the cooperation, Bozhou city, in collaboration with Woyang County, Mengcheng County, and local enterprises, aims to promote the establishment of a methanol-hydrogen ecosystem. Farizon Auto plans to work alongside its strategic partner Windey Energy Technology Group(Windey) in green methanol production to support this initiative.
As per the agreement, both parties will jointly promote green and low-carbon transportation with a focus on the methanol-hydrogen industry. The duo plans to advance the development of new energy commercial vehicle and components, establish a demonstration zone for methanol-hydrogen electric vehicle applications, and foster zero-carbon methanol production projects.
Currently, Farizon Auto has established 519 methanol refueling stations across China, with plans to expand to 4,000 stations by 2027. In 2024, Chunqing Technology, a subsidiary of Farizon Auto completed two rounds of financing, achieving a valuation exceeding $1.5 billion.
