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'24
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Voith News
VOITH ESTABLISHES HYDROGEN JV WITH CHINESE TECHNOLOGY GROUP WEIFU
The aim is to jointly develop and promote hydrogen storage systems for mobility applications.
voith.com
Front row, f.l.t.r.: Voith HySTech CEO Maximilian Giehr, Deputy General Manager of Weifu Liu Jinjun. Back row, f.l.t.r.: Vice Chairman of Weifu BoD Christoph Kirsch, Voith CFO Stephanie Holdt, Voith CEO Dr. Toralf Haag, Mayor of Wuxi City Zhao Jianjun, Chairman of the Wuxi IDG Board Yao Zhiyong, District Chief of Xinwu District Zhang Jinwei
Voith has been intensifying its activities in the field of hydrogen for several years now. Hydrogen-powered systems are regarded as key technologies for a sustainable energy transition, particularly in heavy-duty transportation. The Voith Group has recognized great growth potential in the field of hydrogen. A separate subsidiary, Voith HySTech GmbH, was established in April 2024 in order to leverage opportunities within this sector.
On June 13, 2024, Voith signed a strategic cooperation agreement with the Chinese Weifu High Technology Group, including the establishment of two joint ventures. Both companies intend to work together on the research, development, production and application of hydrogen storage systems. One of the joint ventures is designed for the global market (excluding China) in which Voith is the controlling majority shareholder with Voith HySTech GmbH at the Garching site near Munich, Germany. The second joint venture for the Chinese market is majority-owned by Weifu.
H2 storage system on a truck
For Voith, Weifu is the ideal complementary partner, bringing with it the relevant know-how in the area of scaling automotive applications and supply chains as well as offering important access to the Chinese market. In addition, Weifu has already been active in the hydrogen sector for several years. Due to the high market dynamics and the need for investment, a partnership is the logical next step for Voith to further accelerate developments in the field of hydrogen and to leverage the great market potential.
Voith has been intensifying its activities in the field of hydrogen for several years now. Hydrogen-powered systems are regarded as key technologies for a sustainable energy transition, particularly in heavy-duty transportation. The Voith Group has recognized great growth potential in the field of hydrogen. A separate subsidiary, Voith HySTech GmbH, was established in April 2024 in order to leverage opportunities within this sector.
On June 13, 2024, Voith signed a strategic cooperation agreement with the Chinese Weifu High Technology Group, including the establishment of two joint ventures. Both companies intend to work together on the research, development, production and application of hydrogen storage systems. One of the joint ventures is designed for the global market (excluding China) in which Voith is the controlling majority shareholder with Voith HySTech GmbH at the Garching site near Munich, Germany. The second joint venture for the Chinese market is majority-owned by Weifu.
H2 storage system on a truck
For Voith, Weifu is the ideal complementary partner, bringing with it the relevant know-how in the area of scaling automotive applications and supply chains as well as offering important access to the Chinese market. In addition, Weifu has already been active in the hydrogen sector for several years. Due to the high market dynamics and the need for investment, a partnership is the logical next step for Voith to further accelerate developments in the field of hydrogen and to leverage the great market potential.
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