(Yicai Global) July 16 -- China Baowu Steel Group and SAIC Motor penned a comprehensive cooperation framework agreement yesterday to broaden their cooperation in comprehensive solutions for automotive materials, hydrogen energy utilization and industrial finance, SAIC announced on its WeChat account yesterday.

The two Shanghai-based companies will jointly build a national-level hydrogen energy industry demonstration zone and 10 to 20 hydrogen stations in the enclave by 2025, per the agreement.

Baowu will bring to bear its hydrogen energy industry chain advantages and provide guarantees and services for SAIC’s hydrogen consumption divisions, including research and development of fuel cell stacks, systems and car rentals. It will also provide SAIC with or coordinate specific scenarios for fuel cell vehicle pilots and supply supporting facilities that include the hydrogen energy re-filling facilities required for vehicle operation.

SAIC will take charge of the R&D of fuel cell vehicles and mass production planning and develop fuel cell-powered vehicles suitable for various use scenarios. It will support Baowu in the development and application of the technology and products of the core substrate of the metal bipolar plate, which is the critical component of fuel cells.

The two parties also plan to carry out extensive cooperation in the fields of new material development, technology formation, development and application of super-strength steel, lightweight bodies, smart supply chains at home and abroad, blockchain and supply chain finance.

Editor: Ben Armour