Phoenix Motor enters Hydrogen Fuel Cell market with acquisition of Altergy assets.
Play the article!

Phoenix Motor enters Hydrogen Fuel Cell market with acquisition of Altergy assets.

Phoenix Motor will produce hydrogen fuel cells to power forklifts, hybrid buses, vans and trucks, and long-range, heavy-duty trucks.

California-based all-electric medium-duty vehicles manufacturer Phoenix Motor Inc. announced the acquisition of hydrogen fuel cell manufacturing assets, including an automated, robotic fuel cell assembly line, from Altergy Systems.

Phoenix will utilize the manufacturing facility to design and produce hydrogen fuel cells to power forklifts, hybrid buses, vans and trucks, and long-range, heavy-duty trucks.

The acquired manufacturing facility, located in Folsom, CA, has the capability to produce a fuel cell every 30 seconds on its advanced, robotic fuel cell assembly line.

With the ability to produce fuel cells in high volumes, using off-the-shelf materials, stamped and molded fabrication, and robotic automated assembly equipment, Phoenix Motorcars plans to raise production at the Folsom facility in the quarters ahead.

CEO of Phoenix Motorcars, Dr. Lance Zhou, commented, “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 U.S. climate bill, which was signed into law this week, 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.”

Also Read: Acura to launch its first electric SUV ZDX in 2024.

Spread the love

Leave a Comment

Your email address will not be published.