Voith has been intensifying its activities in the field of hydrogen for several years, recognising hydrogen-powered systems as key technologies for a sustainable energy transition, particularly in heavy-duty transportation.
The Group has identified significant growth potential in H2O and established Voith HySTech GmbH in April 2024 to capitalise on these opportunities.
Recently, the company signed a strategic cooperation agreement with the Chinese Weifu High Technology Group, which includes the creation of two joint ventures.
Both companies aim to collaborate on the research, development, production, and application of hydrogen storage systems.
One joint venture, targeting the global market (excluding China), will see Voith as the majority shareholder with Voith HySTech GmbH based in Garching, near Munich, Germany.
The second joint venture, focused on the Chinese market, will be majority-owned by Weifu.
Dr. Toralf Haag, CEO of Voith Group, remarked:
“Through the cooperation with the Weifu Group, we can jointly leverage the great potential of the hydrogen market. Both companies are pioneers in the field of hydrogen-powered systems for mobility applications and complement each other perfectly.”
For Voith, Weifu represents an ideal partner, bringing expertise in scaling automotive applications and supply chains, alongside crucial access to the Chinese market.
Weifu has been active in the H2O sector for several years, making this partnership a logical step for Voith to accelerate developments in hydrogen technology and maximise market potential.
This agreement was facilitated by the German company Bosch, which has been collaborating with Weifu on hydrogen fuel cell development since early 2022 and holds strategic shares in the firm.
The cooperation deal, including the formation of the two joint ventures, is expected to be finalised by the fourth quarter of 2024, pending regulatory approvals and customary closing conditions.
About the Weifu Group
Founded in 1958, it is a renowned automotive supplier and one of the top 30 companies in the Chinese automotive industry.
Employing nearly 8,000 people, it manufactures systems for fuel vehicles such as fuel injection, exhaust aftertreatment, and engine air intake.
The company aims to become a leading supplier of core components for hydrogen fuel cells and electrolyzers, with existing components already contributing to the hydrogen economy.
About the Voith Group
It is a global technology company with a broad portfolio of systems, products, services, and digital applications.
Voith sets standards in energy, paper, raw materials, transport, and automotive markets.
Founded in 1867, the company employs around 22,000 people, generates sales of 5.5 billion euros, and operates in over 60 countries, making it one of Europe’s larger family-owned businesses.
