Expanding its footprint in the Chinese hydrogen market, automotive technology company Faurecia has acquired one of China’s largest high-pressure tank manufacturers.
The company yesterday (16th Feb) announced the acquisition of CLD to push forward its development of homologated type III and IV hydrogen storage tanks.
As part of the deal the two companies will jointly manufacturer the hydrogen solutions. Faurecia will benefit from CLD’s 200 employees and two plants, which boast a capacity of 30,000 tanks per year.
Commenting on the transaction, Mathias Miedreich, Faurecia Clean Mobility Executive Vice-President said, “CLD is the right partner for Faurecia to accelerate hydrogen mobility in China.”
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