GWM reportedly completes product planning for fuel cell PV brand

Shanghai (Gasgoo)- Great Wall Motor (“GWM”) has completed the product planning for its fuel cell passenger vehicle (“PV”) business, which will be launched as a separate premium brand, according to a local media outlet, citing people with knowledge of the matter.

GWM has not responded to the rumor after being reached for a comment.

GWM Hydrogen Technology Center; photo credit: GWM

The automaker said it has set up a world-class R&D team for hydrogen energy, fuel cell systems, and vehicle technologies as far back as 2016. In 2018, it became the first Chinese auto company to join the Hydrogen Council.

In March 2021, GWM formally released the Hydrogen Energy Strategy, aiming to build a sustainable and better society with hydrogen energy.

The hydrogen energy strategy encompasses both an international supply chain ecosystem integrating hydrogen “production-storage-transportation-refueling-application” and the Hydrogen-L.E.M.O.N. Technology—a world-class full-scene solution of "hydrogen power systems" meeting vehicle regulations.

Under the hydrogen energy strategy, GWM would attach equal importance to both commercial vehicles and passenger vehicles to promote technological and industrial development through scenario exploration and accelerate product development.

At the strategy launching ceremony, GWM said it would pour another 3 billion yuan ($448.84 million) into the hydrogen energy R&D sector to reach an annual production capacity of 10,000 sets.

GWM founded its hydrogen energy arm, FTXT Energy Technology Co., Ltd. (“FTXT”) in 2019. In December 2021, FTXT announced the completion of its Series-A funding with a total of 900 million yuan ($134.652 million) raised, realizing a post-investment valuation exceeding 4 billion yuan ($598.453 million).