Shanghai (ZXZC)- On June 15, Geely's Farizon New Energy Commercial Vehicle Group ("Farizon Auto") signed a strategic cooperation agreement with CHN Energy Inner Mongolia Power Co., Ltd. and CEMT Co., Ltd., according to a post on Farizon Auto's WeChat account.

The three parties aim to leverage Inner Mongolia's abundant wind and solar energy resources to create a comprehensive demonstration project for large-scale base new energy and green transportation.

Photo credit: Farizon Auto

Methanol, which is liquid electricity and liquid hydrogen, serves as the best carrier for wind and solar power. Liquid sunlight methanol hydrogen electric technology represents an advanced development of electrification. It is a commercially viable application of hydrogen fuel that does not rely on subsidies, aligning better with national conditions and offering a more sustainable new energy technological pathway. Inner Mongolia Autonomous Region holds 57% of China's wind energy resources and over 21% of its solar energy resources, with a technically exploitable wind and solar capacity exceeding 1 billion kilowatts, giving it a unique advantage in new energy development.

According to the agreement, the three parties will harness their technological strengths as leading companies in their respective industries. They will use the large-scale “desert, Gobi, barren land” base demonstration project in Inner Mongolia as a catalyst to integrate the new energy and hydrogen methanol production, transportation, and hydrogen storage equipment manufacturing industries. The collaboration includes researching and constructing a grid-connected GW-level distributed new energy base project, innovating localized new energy consumption models, and promoting the integration of energy and transportation industries and technologies.

This cooperation marks a significant breakthrough in the advancement of new energy transformation, said Farizon Auto. It not only promotes low-carbon emissions but also demonstrates the low electricity prices and low-cost development value of new energy in large-scale bases, the regulatory value of hydrogen storage energy, and the safe and economic value of large-scale green transportation replacement of petroleum with hydrogen methanol, achieving integrated development of new energy and hydrogen methanol.