CSIC signs battery hybrid vessel strategic agreement

Under the terms of a strategic partnership agreement signed on 2 April, CSIC and China Dynamics will jointly develop new generation electric vessels and new electric ferryboats. The two companies also plan to apply the hydrogen fuel cell, battery hybrid and pure electric battery powered technologies to other suitable vessel types.

Mr. Cheung Ngan, Chairman of China Dynamics, said “The Group is very pleased with this partnership with CSIC dedicated to developing electric vessel business that has huge market potential. CSIC has the most comprehensive vessel related capabilities in the Mainland, whereas China Dynamics boasts leading technologies for offering new energy vehicle technology solutions and whole vehicle – engine and all components – manufacturing. We will soon be able to launch energy-efficient ferryboats that use new generation power sources.”

The vessels will initially be promoted in Hong Kong and the broader Guangdong-Hong Kong-Macao Bay Area, with the intention of subsequently competing in the developing international market for electric vessels.

Hong Kong plans to encourage ferry service tender applicants to use environmentally friendly vessels and equipment to help to reduce air pollutant emissions. China Dynamics has an existing agreement with the Hong Kong government to develop an electric bus brand in the city. In mainland China, municipal authorities were instructed to draw up measures to encourage green shipping under a State Council action plan.