Shanghai (ZXZC)- Shanghai Hydrogen Propulsion Technology Co., Ltd. (SHPT), a subsidiary of SAIC Motor, launched on March 16 a new fuel cell project at Jiading District in Shanghai, which is expected to help SAIC Motor speed up the industrialization of fuel cell-related products.

Under the project, the company plans to build at Jiading Hydrogen Park a fuel cell-focused base that is available for R&D, administration business, product test & verification, pilot scale production, and supply of hydrogen energy with RMB500 million to be invested, according to a post on SHPT's WeChat account.

The first phase is set to start operation in August 2021 with an annual capacity of 12,000 sets of fuel cell stack and system. Besides, the project is anticipated to output value of RMB1.2 billion by 2024.

(Photo source: SHPT's WeChat account)

Founded in June 2018, SHPT is set up to accelerate the commercialization and industrialization of fuel cell related products for SAIC Motor. The subsidiary says it provides fuel cell products and engineering services for vehicle manufacturers and has completed the development of several types of fuel cell stacks and systems, with power levels ranging from 30kW to 100kW and above. It mainly serves SAIC-owned brands such as Roewe, Maxus, Sunwin, Hongyan and Naveco.

Local government of Jiading District, Shanghai issued on June 10 two documents, saying it aimed to increase the district's full-year output value of the whole industrial chain for hydrogen energy and fuel cell vehicle (FCV) to over RMB50 billion by 2025.

To achieve that goal, the government proposed a series of policies to support the development of hydrogen FCV industry.

For instance, it would place priority on critical programs launched by hydrogen vehicle-related companies with sufficient supporting funds. Enterprises and public institutions in Jiading would be encouraged to prioritize the products made in the district in terms of procurement.

In a bid to enlarge the industry cluster, the newly-introduced key programs invested by domestic and foreign capital and their headquarters would be rewarded with up to RMB10 million worth of funds.