Forvia Partners with Sinopec to Accelerate Hydrogen Development in China
Forvia has announced the entry of a local strategic investor into the capital of FORVIA Hydrogen Solutions China, its subsidiary dedicated to hydrogen activities in China, following a capital increase of 300 million yuan (approximately 40 million euros).
Sinopec, a Chinese energy and chemical specialist and a major player in the hydrogen value chain, will join the project as an industrial partner through its subsidiary Chaoyang Hydrogen New Energy Venture Capital Fund.
In 2024, China produced 36.5 million tonnes of hydrogen, an increase of 3.5% compared to 2023, mainly for the chemical sector, with growing use in transportation and steelmaking. China is the world's largest market for fuel cell vehicles, with more than 30,000 units sold, and operates 559 refueling stations. The 2025 roadmap targets 500,000 hydrogen vehicles by 2030 and over one million by 2035, supported by subsidies, toll exemptions, and reduced hydrogen prices.
FORVIA SE is one of the world leaders in designing, manufacturing, and marketing automotive equipment. Net sales break down by product family as follows:
- seats (32%; No. 1 worldwide);
- interior car parts (18.9%; 1 worldwide): dashboards and instrument panels (No. 1 worldwide), doors and door panels, and acoustic modules;
- audiovisual and multimedia equipment (15.5%): car radios, multimedia devices, navigation systems, automatic guiding systems, location systems, safety assistance systems with CDD captor cameras, wireless communication, monitors, etc.;
- exhaust systems (15.4%; No. 1 worldwide);
- lighting equipment (14.4%);
- other (3.8%).
At the end of 2024, the group had more than 290 production sites worldwide.
Net sales are distributed geographically as follows: France (5.8%), Germany (10.3%), Europe-Middle East-Africa (30.7%), Asia (26.7%) and America (26.5%).
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