Voith HySTech establishes JVs with Chinese Weifu High Technology Group

Voith (Heidenheim, Germany) has been intensifying its activities in the field of hydrogen for several years now, particularly in heavy-duty transportation. For instance, Voith Group established a separate subsidiary, Voith HySTech GmbH (Garching) in April 2024 in order to leverage opportunities within this sector.

Now, the company has confirmed the signing of a strategic cooperation agreement with the Chinese Weifu High Technology Group (Wuxi, Jiangsu province) on June 13. An update from CW’s previous announcement in March, the cooperation includes the establishment of two joint ventures. Both companies intend to work together on the research, development, production and application of hydrogen storage systems. One of the joint ventures is designed for the global market (excluding China) in which Voith is the controlling majority shareholder with Voith HySTech GmbH at the Garching site near Munich, Germany. The second joint venture for the Chinese market is majority-owned by Weifu.

“Through the cooperation with the Weifu Group, we can jointly leverage the potential of the hydrogen market,” says Toralf Haag, CEO of Voith Group. “Both companies are pioneers in the field of hydrogen-powered systems for mobility applications and complement each other perfectly.”

For Voith, Weifu is the ideal complementary partner, bringing with it relevant know-how in the area of scaling automotive applications and supply chains as well as offering important access to the Chinese market. In addition, Weifu has already been active in the hydrogen sector for several years. Due to the high market dynamics and the need for investment, a partnership is the logical next step for Voith to further accelerate developments in the field of hydrogen and to leverage the great market potential.

The Weifu Group mainly manufactures fuel vehicle systems including fuel injection, exhaust aftertreatment and engine air intakes. The company is also striving to become a leading supplier of core components for hydrogen fuel cells and electrolyzers. Weifu has components for the hydrogen economy in its existing portfolio.

The aforementioned agreement was concluded with the help of the German company Bosch, which has been researching the development of hydrogen fuel cells, together with Weifu, since the beginning of 2022 and also holds strategic shares in Weifu.

The cooperation deal, including the establishment of the two joint ventures, is expected to be completed by Q4 2024 and is subject to all regulatory approvals and other customary closing conditions.