Faurecia has completed the final closing of its acquisition of Chinese hydrogen tanks manufacturer, CLD.
Headquartered in ShenYang, CLD has around 200 employees and two plants in Liaoning with a capacity of 30,000 tanks per year.
CLD has also recently been certified by the Chinese central government as the first domestic producer of Type IV hydrogen tanks. Faurecia maintains unlike Type III tanks, which use an aluminium liner instead of a plastic one, Type IV products are lighter and better suited to mobility applications.
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Since Faurecia announced the acquisition project in February, CLD has been selected by mainstream Chinese OEMs such as SAIC for a large fleet of different models of commercial vehicles.
“We are glad to open a new chapter and firmly believe by combining the strengths of both companies, Faurecia CLD will confirm its leading position and competitive advantage in the fast-growing Chinese market,” said Faurecia Zero Emission China GM, Alban Brisset.
The Chinese government’s objective to have 1m hydrogen-powered vehicles in operation by 2030.
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