Hydrogen joint ventures can potentially be established between Voith and Weifu
The hydrogen freight transport market is experiencing rapid growth, driven by sustainability goals, stringent emission regulations, and technological advances. The market is projected to reach $10.29 billion by 2029, with a compound annual growth rate (CAGR) of 31.8%[1]. This expansion is fueled by increasing demand for zero-emission trucking solutions, government incentives, and rising fuel prices.
Hydrogen fuel cell trucks are particularly gaining traction for long-range freight transport, especially in regions with growing hydrogen infrastructure. This growth aligns with increased investments in hydrogen storage technologies, a critical component of hydrogen mobility, as the hydrogen storage tanks market is expected to grow from $0.4 billion in 2025 to $13.1 billion by 2035 at a CAGR of 41.2%[2].
In a significant move, the Bundeskartellamt has approved the formation of two hydrogen technology joint ventures between the VOITH Group and the Weifu High-Tech Group. While the specific partnership details are not present in the current search results, such collaborations typically accelerate hydrogen drive solutions by combining Voith's expertise in drive and transmission technology with Weifu's strengths in manufacturing and hydrogen component systems.
The joint ventures will be in charge of the storage systems sector. One of the joint ventures will operate in China, while the other will serve the global market (excluding China). The Weifu Group, a Chinese automotive supplier with over 7,000 employees, will be indirectly controlled by the Chinese state via the Wuxi Industry Development Group.
The effects of the project on the value chain and other business areas were analyzed, and it is not expected that competitors in the storage systems sector will be impeded. The project did not indicate any potential for foreclosure of supply in the storage systems sector. The competitive assessment did not identify any overlaps between Voith and Weifu that could raise competition concerns.
Andreas Mundt, President of the Bundeskartellamt, stated that hydrogen-based drive solutions for freight transport are still at a fairly early stage of commercialisation. The potential growth of the hydrogen market depends on how competing technologies will develop and on the potential purposes for which such technologies can then be used.
Voith, a German industrial group with over 22,000 employees and a turnover of more than 5 billion euros, offers machines and technologies for the energy, paper, raw materials, and transport sectors. The Weifu Group, with 33 subsidiaries, holding companies, and public institutions, and 30 other shareholdings in various fields, is not yet active in the storage systems sector.
The joint ventures will be responsible for manufacturing hydrogen tanks for heavy-duty vehicles and distributing hydrogen storage systems. The fields in which the Weifu Group has shareholdings include advanced manufacturing technologies, microelectronics, new energy, new materials, environmental protection, and modern services.
In summary, the joint ventures between Voith and Weifu are poised to strengthen the hydrogen freight ecosystem by improving technology readiness and deployment capabilities. The collaboration is expected to develop efficient, reliable hydrogen drive systems optimized for heavy-duty freight vehicles, scale production to reduce costs and improve market adoption, and integrate components for better performance and safety.
The formation of hydrogen technology joint ventures between the VOITH Group and the Weifu High-Tech Group is a significant step towards strengthening the hydrogen economy, particularly in the hydrogen storage systems sector. These joint ventures, set to operate in both China and the global market, aim to develop and distribute hydrogen storage systems for heavy-duty vehicles, contributing to the growth of hydrogen storage technology and the overall advancement of hydrogen fuel cell trucks in the hydrogen economy.
