Faurecia has announced that it has acquired a majority of CLD, one of China’s largest high-pressure tank manufacturers.

The transaction will be completed once regulatory approvals are obtained in China.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Faurecia and CLD will develop and manufacture homologated type III and IV hydrogen storage tanks for the Chinese market. Headquartered in ShenYang, CLD has around 200 employees and 2 plants in Liaoning with a capacity of 30,000 tanks per year. The company is already an established and recognized player providing homologated hydrogen tanks to leading Asian commercial and light vehicle automakers.

Mathias Miedreich, Faurecia Clean Mobility EVP, said: “CLD is the right partner for Faurecia to accelerate hydrogen mobility in China. By 2030, China will represent a market of at least one million fuel cell vehicles. Through our complementary technologies and industrial expertise, we will further develop CLD’s leadership.”

“We are very pleased to welcome Faurecia, one of the global leading technology companies, through its investment in CLD equity. We believe that by joining the strengths of both parties, Faurecia_CLD will become one of the major fuel cell tank manufacturers in China,” said Mrs Jiang Jiang, Chairman of CLD.

As hydrogen mobility gains momentum, Faurecia says it is uniquely positioned to develop hydrogen storage systems and distribution services as well as fuel cell systems (through Symbio, a joint venture with Michelin). This scope represents 75% of the full system value chain, Faurecia maintains.  By 2030, Faurecia forecasts the annual hydrogen vehicle production to be two and half million vehicles. Faurecia says it is committed to continue to invest significantly with the ambition to become a world leader in hydrogen mobility.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.