In Hydrogen Fuel Cell Move, Phoenix Motor Acquires Altergy Assets

The strategy will accelerate the design and development of H2 across vehicle and equipment lines.

Phoenix Motor Inc. (Nasdaq symbol PEV) announced the acquisition of Altergy Systems’ hydrogen fuel cell manufacturing assets, including an automated robotic assembly line.

The company is a leader in the manufacture of fully electric medium-duty vehicles.

Phoenix Motor will use the manufacturing facility it acquired to design and produce hydrogen fuel cell units for use in H2-powered forklifts, hybrid buses, trucks and vans, as well as than long-haul and heavy trucks.

“We are excited to further expand our business with our entry into the growing hydrogen fuel cell market. The acquisition of these manufacturing assets enables Phoenix to accelerate its development plans and take advantage of the automated production capabilities of these facilities as we transition to mass production of hydrogen fuel cells for the growing market. boom of electric vehicles in the coming quarters,” said Dr. Lance Zhou. , CEO of Phoenix Motorcars.

“Furthermore, the Inflation Reduction Act, also known as the United States Climate Act, which was signed into law this week, should provide us with tremendous incentive, opportunity and market stability to develop this important source of clean energy. We are currently integrating the acquired assets and facilities into our business and look forward to providing regular updates as we achieve significant milestones in the hydrogen fuel cell industry,” a- he added in a recent press release.

The hydrogen fuel cell manufacturing plant acquired by Phoenix is ​​located in Folsom, California.

The Folsom, California manufacturing facility has the capacity to produce two complete units per minute through the use of its advanced robotic assembly line. The facility has a particularly high capacity to produce the units in large volumes and utilizes off-the-shelf materials, as well as stamped and molded manufacturing, in addition to robotic automated assembly equipment.

hydrogen car manufacturer

That said, Phoenix Motorcars intends to steadily increase production rates at the Folsom, Calif. plant over the coming quarters.

Hydrogen fuel cell technology is expected to play a central role in the global decarbonization effort, as H2 can be used to run zero-emission vehicles, machinery, industries, power generators and a range of other applications.