SAIC Motor released its first hydrogen strategy plan for China's auto industry, aiming to grab market share in the new NEV segment.
SAIC Motor's MG MG6. Image credit: SAIC Motor
Chinese car manufacturing giant SAIC Motor aims to roll out at least ten fuel cell vehicle models over the next five years and to hit over 10,000 units in both annual FCV outputs and sales, representing a more than 10% share in China's FCV market, according to its new 'Hydrogen Strategy' announced this September.
According to Chinese media channel Gasgoo, under the newly-unveiled strategy, the company also expects the market value of Shanghai Hydrogen Propulsion Technology Co., Ltd. (SHPT), a fuel cell technology developer mainly owned by SAIC Motor, to grow to over CNY 10 billion, and is striving to form a fuel cell R&D and operation team with over 1,000 staff members by the same deadline.
SAIC said that by 2025, SAIC's self-developed fuel cell system will achieve cumulative sales of more than 30,000 sets, making it a leader in domestic, independent fuel cell systems. By 2030, SAIC will become a fuel cell vehicle manufacturer with completely independent intellectual property rights and global competitiveness.
Hydrogen fuel cells are becoming a favorite in the new energy field, and many auto companies are looking to seize the opportunity.
Hydrogen fuel cell research and development is another segment that is getting a lot of attention. In mid-July, Great Wall Motors officially released its new brand dedicated to the segment. The vehicles produced by the brand will match the second-generation hydrogen fuel cell power system, with a driving range of up to 1,100 kilometers. Besides, GAC, Hongqi, Changan and other automakers have begun to deploy hydrogen fuel cell vehicles.
However, the segment faces two significant problems: inadequate infrastructure and high costs. According to SAIC, it is currently strengthening cooperation with upstream and downstream partners in the industrial chain of parts, hydrogen production, hydrogen transportation, hydrogen storage, hydrogenation, etc.
Subscribe to the China NEV Intelligence Newsletter for daily updates.