With almost CNY1bn (USD138m) invested in the new “Super Plant”, which occupies an area of 72,000 sq m, it can assemble and paint up to 320,000 sets of drive axles per year.

The planned facility will cover 46,000 square metres and employ more than 500 workers, engaged in storing and distributing spare parts as well as electric vehicle batteries.

The iron foundry in Heerlen, operated by subsidiary company ‘VDL Castings Heerlen’, produces cast-iron parts for multiple sectors, including the truck industry.

The money will finance the construction of a 72,000-square-foot extension, which will expand the total size of the facility to 352,000 square feet.

With the announced investment, ZF will hire 400 new workers and prepare the site for a wider range of manufacturing outputs, serving both internal combustion engines and electric powertrains.

Specific testing will evaluate the electric and thermal performance of the HFC in real-world conditions. Ultimately, this is another step in bringing this product to market.

The 28,000-square-metre plant is being built in the Jiading Hydrogen Park, within the municipality of Shanghai.

ICPT perhaps is best described as a developer of energy storage systems for a range of heavy-duty mobile applications, including buses, trams, trolleybuses and industrial vehicles and has to date supplied customers predominantly located in Europe, New Zealand and the USA.

The strategic investors include Mitsui, Hy24, and Hexagon Composites. This will help fund upcoming investments, including expanding its hydrogen fuel storage tank factory in Weeze, Germany.

The JV aims to manufacture battery cells for commercial electric vehicles at a 21-gigawatt hour (GWh) factory that is anticipated to cost between USD 2-3 billion and come online in 2027.

According to the agreement, Hyundai will manufacture and supply the chassis cab, while Iveco Group will handle local customisation and European distribution through its sales network.

The money will serve two purposes: it will expand the production of cathode materials and battery cells in the gigafactory, and it will expand the capabilities of the adjacent recycling plant.