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Shanghai’s Jiading eyes annual output value for hydrogen FCV industry topping RMB50 billion by 2025

Tuesday From Gasgoo| June 10 , 2019

Shanghai (Gasgoo)- Local government of Jiading District, Shanghai issued on June 10 two documents, saying it aims 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.

According to the Development Planning on FCV for Shanghai issued in September 2017, Shanghai municipal government set a mid-term goal (from 2021 to 2025) for its hydrogen fuel cell vehicle development that expects an annual output value for whole industrial chain amounting to RMB100 billion. If the district's latest target was finally achieved, Jiading will account for roughly 50% of the megacity's overall output value.

One of the documents is designed to build a 2.15-square-kilometer industry cluster that gathers hydrogen FCV businesses.

Shanghai Jiading hydrogen FCV plan, Jiading hydrogen FCV annual output, China automotive news

(Photo source: WeChat account of the Shanghai Municipal Commission of Economy and Informatization)

At the same time, Jiading's local government suggested a series of policies to support the development of hydrogen FCV industry as part of efforts to accomplish the RMB50 billion target.

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

Besides, the Jiading government is going to promote and subsidize the pilot operation of hydrogen-powered buses. Companies in the district will also be buoyed to independently carry out the R&D over fuel cell stacks and build technology hubs.

Additionally, the district government will play a guiding role in establishing a special fund for hydrogen FCV development, offering subsidy to those companies that are ready to go public after a share reform and to those enterprises who provide the hydrogen car industry cluster with security and financing rental services.

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

According to local media outlets, Jiading district is about to increase the number of hydrogen refueling spots to over 6 in 2019.

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