Faurecia closes CLD acquisition: Type IV homologation granted to accelerate deployment of hydrogen mobility in China
On April 30th, 2021 Faurecia successfully completed the final closing of its acquisition of CLD, one of the leading Chinese manufacturers of hydrogen tanks. Headquartered in ShenYang, CLD has around 200 employees and 2 plants in Liaoning with a capacity of 30,000 tanks per year.
CLD, which has significant growth potential in the China market, has also been recently certified by the Chinese central government as the first domestic producer of Type IV hydrogen tanks. Unlike Type III tanks, which use an aluminum liner instead of a plastic one, Type IV tanks are lighter and thus better suited to mobility applications. Through the acquisition of CLD and thanks to the certification of Type IV tanks, Faurecia will further energize its momentum for hydrogen mobility in China.
Since Faurecia announced the acquisition project in February, CLD has been awarded from mainstream Chinese OEMs like SAIC for a large fleet of different models of commercial vehicles.
We are glad to open a new chapter and firmly believe that by combining the strengths of both companies, Faurecia CLD will confirm its leading position and competitive advantage in the fast-growing Chinese market.
The Chinese government’s objective by 2030 is to have 1 million hydrogen-powered vehicles in operation.