(Yicai Global) Nov. 27 – An affiliate of Shenzhen Center Power Tech will participate in the joint development of hydrogen fuel cell logistics trucks, with about 1,800 to roll onto the market between 2020 and 2022, the company said in a statement yesterday.

Its shares [SHE:002733] rose 2.69 percent to close at CNY22.94 (USD3.26) this morning.

Datong Hydrogen Yunding Hydrogen Technology, in which Shenzhen Center Power Tech indirectly holds an 80 percent stake, Wulabang Logistics Supply Chain (Shanghai) and Shanghai Hua'en Energy Technology yesterday sealed a cooperative deal in Datong in China's north-central Shanxi province.

The trio will develop the new energy vehicles together and roll 1,800 onto the market within the term of the agreement, with 300-odd vehicles to hit the streets next year, a figure set to rise to 600 in 2021 and 900 in 2022.

The collaboration is based on a nine-ton fuel cell box truck Datong Hydrogen Yunding developed. These vehicles are equipped with a 48-kilowatt fuel cell engine system the company independently developed.

China's 13th Five-Year Plan calls for research and development of fuel cells, construction of hydrogen stations, and fuel cell vehicle mass production by next year. China's HFCV production climbed over eight times over the first 10 months to 1,391 units, while the tally of those sold grew nine-fold to 1,327 autos, data the Beijing-headquartered China Association of Automobile Manufacturers released on Nov. 11 show.

Wulabang Logistics will market the HFCVs, and Datong Hydrogen Yunding will deliver the trucks and fuel cell system components, while Shanghai Hua'en Energy Technology will supply other parts.

Shenzhen Center Power Tech mainly develops, makes and sells chemical energy batteries, new energy vehicle power storage and drive batteries and fuel cells. Datong Hydrogen Yunding, which is active in all fields of the domestically-made hydrogen fuel cell industry, also engages in hydrogen production, storage and hydrogenation, public transportation, marine power, passenger vehicles, distributed hydrogen power generation and emergency power supply.
Datong, China's 'coal capital,' is in the midst of a makeover as a hydrogen hub, as the gritty city, whose mines are exhausted, seeks new sources of growth.

Editor: Ben Armour