Sinopec Capital Invests in Forvia to Accelerate Hydrogen Mobility in China
Beijing, Friday, 9 January 2026.
Forvia has secured a strategic RMB 300 million investment from Sinopec Capital to expand its hydrogen footprint. This partnership leverages Sinopec’s extensive energy infrastructure to support China’s ambitious target of 500,000 hydrogen vehicles by 2030.
Strategic Investment and Deal Structure
The transaction, announced on January 8, 2026, involves a capital increase of RMB 300 million (approximately €40 million) into Forvia Hydrogen Solutions China, with Sinopec Capital entering as a strategic minority shareholder [1]. This investment is executed through Sinopec Capital’s Hydrogen New Energy Venture Capital fund, a vehicle designed to pursue equity partnerships with leading enterprises to consolidate Sinopec’s position in the energy sector [1][2]. The collaboration aims to combine Forvia’s technological expertise in hydrogen storage and fuel cell systems with Sinopec’s industrial resources, thereby improving cost competitiveness and accelerating access to both public and private markets [1].
Accelerating Industrial Momentum
The partnership is set against the backdrop of a rapidly expanding domestic hydrogen sector, which the Chinese government has integrated into its national energy management system alongside petrol and natural gas [2]. In 2024, China’s hydrogen production reached 36.5 million tons, representing a 3.5% increase compared to 2023 levels [1][2]. This industrial output supports a growing ecosystem that already includes 559 refueling stations and a fleet of over 30,000 hydrogen fuel cell vehicles [1]. Looking ahead, the national roadmap is aggressive: policymakers have set targets to scale the hydrogen vehicle population to 500,000 by 2030 and to exceed one million units by 2035 [1]. These goals are further supported by government incentives, including subsidies and toll exemptions, creating a favorable environment for industrial players [2].
Operational Footprint and Market Outlook
Forvia’s alignment with Sinopec Capital builds upon a substantial existing operational base in the region. As of December 2024, China represented 21% of Forvia’s global sales, contributing approximately €5.9 billion to the group’s revenue [1]. The company maintains a robust presence with 67 plants and 27 R&D centers across more than 30 cities, employing over 30,700 individuals, including 3,000 researchers [1]. While the domestic market sees strong Electric Vehicle (EV) penetration—currently at 35% with projections to reach 45% by 2030—hydrogen remains a critical component of the energy transition strategy [1]. Ma Ming, Chairman of Sinopec Capital, emphasized that this partnership supports Sinopec’s ambition to become “China’s No. 1 hydrogen company,” fostering win-win outcomes across the global industry [1].