Chinese automobile and equipment manufacturer dong Power is paying over £ 40 m ( $ 54 m ) for a 20 % stake in British solid fuel fuel cell ( gasoline ) maker Ceres plc . A joint agreement to develop fuel cell systems in the Chinese city of Weifang by 2020 was also signed by the two firms , which will focus initially on a range extender that uses compressed natural gas to target China 's booming electric - bus market . The deal gives Ceres access to China , the world 's fastest growing fuel cell market and Weichai insight into Ceres ' SteelCell technology .
Chinese automobile and equipment manufacturer Weichai Power is paying over £40m ($54m) for a 20% stake in British solid oxide fuel cell (SOFC) maker Ceres Power. A joint agreement to manufacture fuel cell systems in the Chinese city of Weifang by 2020 was also signed by the two firms, which will focus initially on a range extender that uses compressed natural gas to target China's booming electric-bus market. The deal gives Ceres access to China, the world's fastest growing fuel cell market and Weichai insight into Ceres' SteelCell technology.