Australian HFCV procurement specialist HDrive is pleased to announce it has entered an agreement with industry leaders Pure Hydrogen Pty Ltd (ASX: PH2) and Wisdom (Fujian) Motors for the manufacture, distribution, sales and procurement of up to 12,000 HFCVs over five years.
HIGHLIGHTS
- HDrive, Pure Hydrogen and Wisdom Motors enter into an agreement for themanufacture, distribution, sales and procurement of up to 12,000 Hydrogen Fuel Cell Electric Vehicles (HFCV) over five years
- Agreement builds on HDrive momentum and strong existing relationships with HFCV industry leaders
- HFCV range to include hydrogen refuellers, hydrogen waste management trucks and prime mover models
HDrive Managing Director, Jason Pecotic, Pure Hydrogen National Sales Manager, Clint Butler and Wisdom Motors CEO, Liquian Su, attended a signing ceremony on 20thOctober 2022 in Brisbane.
Under the agreement, Wisdom (Fujian) Motor Company will partner with major shareholder Ballard – the world’s number one fuel cell supplier – to initially build the vehicles at the Wisdom Company premises in Zhangzhou, China. HDrive will procure the vehicles which are Australian designed and engineered, with Pure Hydrogen to purchase and lease them to customers. Pure Hydrogen will also have the capability to supply hydrogen fuel and associated infrastructure providing a full turnkey approach for operators.
Truck models will include:
- Prime movers 49-tonne through to 70-tonne models
- Waste management trucks
- Refuelling trucks
The agreement cements HDrive’s strong relationships with Pure Hydrogen and Wisdom Motors, and represents a crucial step for the Company as it continues to define and deliver on the requirements for the rapidly expanding HFCV truck market. Importantly, it builds on HDrive’s previously released announcement HDrive hydrogen-powered prime movers, special purpose trucks move into production.
Hydrogen technologies and specifically hydrogen vehicles have strong industry and bipartisan government backing, with HFCVs experiencing extraordinary demand growth as fleet owners look to replace retired vehicles with zero-emissions alternatives.
State governments including NSW, WA Queensland and Victoria have all committed to significant investment in hydrogen technologies.
NSW is targeting 20% hydrogen government vehicles by 2030, and has pledged up to $3 billion to support industry development including $70 million for the establishment of hydrogen hubs. The WA Government has committed $160 million to supporting the development of a renewable hydrogen industry in the state, and in April 2022, received a $140 million bipartisan Federal funding commitment to contribute to the development of two new hydrogen hubs in WA.
In 2021, more than 296,000 commercial vehicles were sold in Australia. The heavy-duty truck segment saw a 22.5% increase with about 13,000 new vehicles sold.
Nation-wide, an estimated 70-80,000 prime movers for long haul logistics operations will need to be replaced within the next five years.
The application of hydrogen to waste management fleets represents a specific high-growth area. In the coming five years, it is believed that over 3000 waste trucks will need to be replaced with Zero Emission trucks.
The agreement represents an important next step for HDrive as the Company continues to drive growth at the leading edge of the HFCV industry.
Left to right: HDrive Managing Director, Jason Pecotic, Wisdom Motors CEO Liquian Su and Pure Hydrogen National Sale Manager Clint Butler and attended a signing ceremony for the on 20 October 2022 in Brisbane
