1. Xiong'an New Power Technology signed a strategic cooperation memorandum of understanding on hydrogen fuel cell commercial vehicles with Synergy Investment LLC in Oman; 2. Both parties plan to expand the market in the Middle East and complete demonstration operations within 2-3 years.
China's Xiong'an New Power Technology Co., Ltd. announced on December 3, that it has signed a memorandum of understanding with Synergy Investment LLC in Oman to explore strategic cooperation in the field of hydrogen fuel cell commercial vehicles.
Xiong'an New Power Technology stated in its official statement published on its website that the signing of this strategic cooperation marks the formal establishment of a hydrogen energy strategic partnership between the two parties. This is an important step in Xiong'an New Power Technology's layout in the Middle East market, providing new impetus for the region's green energy transformation and environmental protection.
According to the memorandum of understanding, both parties will jointly explore the establishment of research and development, production, sales, related service sites, technical support, and after-sales service systems for hydrogen fuel cell commercial vehicles in Oman and other Middle Eastern countries, to develop the market for hydrogen fuel cell commercial vehicles in the Middle East.
Xiong'an New Power Technology Co., Ltd. is a subsidiary of the well-known Chinese automaker Great Wall Motors Group. In the global electric vehicle market, it mainly focuses on fuel cell, hydrogen storage systems, and component development, production, and sales. Currently, it operates 5 R&D centers in Shanghai and Baoding, China, as well as in Canada, Japan, and Germany. Its products include fuel cell engines, stacks, onboard hydrogen storage systems, tank top valves, and pressure regulators.
Xiong'an New Power Technology plans to leverage its abundant experience in hydrogen energy to collaborate with auto manufacturers to provide advanced hydrogen fuel cell technology, products, and hydrogen-powered vehicles to its Omani partner Synergy. Synergy will be responsible for market development and localized operations.
Xiong'an New Power Technology stated:
"Currently, both parties plan to build and complete the demonstration operation of hydrogen fuel cell vehicles in Oman within the next 2-3 years, and promote the construction of hydrogen infrastructure and the diverse application of hydrogen scenarios to provide strong support for the development of the hydrogen industry in the Middle East."