China Yuchai Forms JV To Develop Fuel Cell Powertrain Systems

China Yuchai International Limited CYD subsidiary Yuchai Xin-Lan New Energy Power Technology Co., Ltd. has entered into a cooperation agreement to further develop hydrogen energy applications with fuel cell powertrain systems in the Beijing, Tianjin, and Hebei markets. The financial terms of the arrangement were not disclosed.
Beijing Xing Shun Da Bus Co., Ltd. and Yuchai Xin-Lan will form a joint venture in the Daxing District of Beijing to research, develop and manufacture fuel cell powertrain systems for on- and off-road applications.
The joint venture partners will also combine their resources and capabilities to advance the development of core fuel cell power system components.
Price Action: CYD shares traded higher by 2.07% at $13.32 on the last check Wednesday.