RONN Motor Group (RMG) has executed its first co-development partnership with a major Chinese provincial Economic and Technological Development Zone (CEDZ) as part of China’s hydrogen initiative to begin advancing sustainable hydrogen technologies, infrastructure and fuel cell vehicles.

While most terms are still confidential, under our new substantial subsidy agreement, and based on the strength of our investors, government commitments could reach beyond one billion USD over time; the economic development agreements can provide capital, factories, land and purchase orders.

Over the next two years our growth strategy’s first phase will be setting up an automotive R&D enter, introducing our lightweight fuel cell bus and the much-anticipated second-generation FCEV platform ‘Phoenix’ in China. We have budgets prepared and are expecting to build a new super factory for our fuel cell automobiles and are in discussions with some Chinese OEMs as potential operation partners to combine our core design, technology, brand, and development strengths with the OEM’s strengths, such as existing mass production capabilities.

—Ronn Ford, CEO

China is expected to become a leader and invest billions to accelerate the hydrogen infrastructure development, potentially even more than that invested for battery powered vehicles. Subsidies have been lowered for battery electric vehicles, however, subsidies for fuel cell vehicles are anticipated continue for the next six years.

—Kevin Hong, founder and CEO of Arbor Lake Capital, the advisory group for RMG