Forvia has announced the minority investment in Forvia Hydrogen Solutions China (FHS China), its hydrogen-focused subsidiary in China, by a strategic local investor through a capital increase of CN¥300 million (≈ €40 million). Sinopec Capital, a Chinese energy and chemical company and a major player in the hydrogen value chain, will join as an industrial partner, through its subsidiary Chaoyang Hydrogen New Energy Venture Capital fund.
Strengthening FHS China’s position
This transaction reinforces Forvia's commitment to optimising its presence in the Chinese fast-growing hydrogen market – strongly backed by government policies. Bringing in a major player like Sinopec Capital strengthens FHS’s position and open doors to key government contracts and industrial synergies.
China’s hydrogen market: a unique dynamic
The hydrogen energy sector has become a national priority in China, integrated into the national energy management system, alongside gasoline and natural gas, to speed ups industrialisation. In 2024, China produced 36.5 million t of hydrogen, up 3.5% from 2023, mainly for chemicals, with growing use in transport and steel. It is the world’s largest market for hydrogen fuel cell vehicles, with over 30 000 sold, and has built 559 refuelling stations. The 2025 roadmap targets 500 000 hydrogen vehicles by 2030 and over 1 million by 2035, supported by subsidies, toll exemptions, and lower hydrogen prices. These advantages create growth and innovation opportunities for FHS China and Forvia.
Value creation and growth prospects
Thanks to this partnership with Sinopec Capital, FHSChina sets a clear roadmap for accelerated growth and value creation through an optimised supply chain (including carbon fibre, resins, etc).
Ma Chuan, Member of Forvia's Executive Committee, Executive Vice President, Faurecia China President, commented: “This partnership will accelerate FHS China’s access to public and private markets, improve cost competitiveness, to be leader in hydrogen solutions worldwide and consolidate Forvia’s position as a key player in China’s energy transition.”
“China is at the forefront of the global energy transition, and hydrogen is a key enabler of sustainable mobility. Partnering with Sinopec Capital, a leader in the hydrogen value chain, will strengthen our ability to deliver innovative solutions for the Chinese market,” underlined Sébastien Limousin, Executive Vice President Forvia Clean Mobility.
“Through the investment in FHS China, we aim to further deepen business collaboration between our two Groups, achieve win–win outcomes across multiple sectors, and contribute to the development of the global hydrogen industry,” said Ma Ming, Chairman of Sinopec Capital.