H2 View understands, a facility including an automated, robotic fuel cell assembly line have been purchased by Phoenix Motor which plans to utilise the assets to design and produce hydrogen fuel cells to power forklifts, hybrid buses, vans, and trucks.
The acquired manufacturing facility, located in Folsom, California, US, is said to have the capability to produce a fuel cell every 30 seconds, with Phoenix revealing plans to raise production at the facility in the future.
Coming soon after the Inflation Reduction Act was signed into law, offering up to $7,500 of tax credits for new hydrogen-powered electric vehicles, the acquisition is another push towards establishing hydrogen in the US.
Dr. Lance Zhou, CEO of Phoenix Motorcars, said, “We are excited to further expand our operations with our entrance into the rapidly growing hydrogen fuel cell market.
“The acquisition of these manufacturing assets enables Phoenix to accelerate its development plans, and leverage the automated production capabilities of these facilities, as we transition to mass production of hydrogen fuel cells for the burgeoning EV market in the coming quarters.
“In addition, the Inflation Reduction Act, also known as the US climate bill, should provide tremendous incentives, opportunities and market stability for us to grow this important clean energy power source.
“We are currently integrating the acquired assets and facility into our company and look forward to providing regular updates as we achieve important milestones in the hydrogen fuel cell business.”
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