FTXT Signs Agreement to Supply 3,900 Fuel Cell Trucks to Baoding City
Key Ideas
  • FTXT subsidiary to supply 3,900 fuel cell trucks to Baoding by 2025, with 900 vehicles to be delivered this year.
  • First batch includes 400 fuel cell vehicles for waste management and 500 additional FCEV trucks.
  • Deal's financial terms and vehicle specifications remain undisclosed, but new business models and financial lease advantages are speculated.
  • Collaboration aims to leverage Baoding's resources and policy advantages for the advancement of the hydrogen energy industry in China.
FTXT, a subsidiary of Great Wall, has signed a framework agreement with Baoding City in Hebei, China, to supply 3,900 fuel cell trucks by 2025. The initial batch of 900 vehicles, to be delivered this year, includes 400 for waste management and 500 additional FCEV trucks. While technical details and financial terms are undisclosed, reports suggest innovative business models and financial lease strategies are facilitating the deployment of fuel cell vehicles. The collaboration aims to capitalize on Baoding's resources, integrating financial services, manufacturing expertise, and urban operations. The substantial order signifies a significant step in the cooperation between the Chinese government and businesses to advance the hydrogen energy sector in China, where commercial fuel cell vehicles are more prevalent than in Europe.
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