A Chinese engines giant is set to increase its stake in rising energy star Ceres Power. State-backed Weichai Power, whose other investments include the Italian yacht maker Ferretti, is expected to take a seat on the board of the fuel-cell maker under plans that will help commercialise Ceres’s technology and boost its market position in China. Under the deal with Weichai, the Sussex-based company is initially working on extending the range of hybrid electric buses in Chinese cities. Ceres also has a tie-up with Bosch, which holds a 4.4% stake.
Times 2nd Dec 2018 read more »