Faurecia completes acquisition of CLD: approval for Type IV hydrogen tanks to accelerate deployment of hydrogen mobility in China.
On April 30, 2021, Faurecia successfully completed the acquisition of CLD, one of China’s leading manufacturers of hydrogen tanks. CLD, headquartered in ShenYang, has nearly 200 employees and 2 factories in Liaoning with a production capacity of 30,000 tanks per year.
Faurecia completes acquisition of CLD: approval for Type IV hydrogen tanks to accelerate deployment of hydrogen mobility in China.
CLD, which has significant growth potential in the Chinese market, was also recently certified by the Chinese central government as the leading domestic producer of Type IV approved hydrogen tanks. Unlike Type III tanks, which use an aluminum liner instead of a plastic liner, Type IV tanks are lighter in weight and therefore better suited for mobility applications. By acquiring CLD and obtaining type IV tank approval, Faurecia intends to strengthen its momentum in hydrogen mobility in China.
Since the announcement of the acquisition project in February by Faurecia, CLD has been entrusted by the main Chinese equipment manufacturers, such as SAIC, with the delivery of hydrogen tanks for a large fleet of different models of commercial vehicles.
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Alban Brisset, Chief Executive Officer of Faurecia Zero Emission China
We are happy to open a new chapter and we are also convinced that by combining the strengths of the two companies, Faurecia CLD will confirm its leadership position and its competitive advantage in a growing Chinese market.
The Chinese government’s goal is to put one million hydrogen vehicles on the road by 2030.
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Faurecia finalise l’acquisition de CLD : homologation accordĂ©e pour des rĂ©servoirs Ă hydrogène de Type IV afin d’accĂ©lĂ©rer le dĂ©ploiement de la mobilitĂ© hydrogène en Chine, 25 mai 2021
