BERLIN -- German engineering and technology company Bosch and China's Chongqing-based premium commercial vehicle manufacturer Qingling Motors have launched a joint venture called Bosch Hydrogen Powertrain Systems, the two companies said here on Wednesday.

The new company would develop, assemble and sell fuel cell systems in China, according to the statement. The market launch is planned between late 2022 and early 2023.

The required components, such as fuel cell stacks, air compressors with power electronics and control units with sensors, would mainly be supplied by Bosch's plant in Wuxi in eastern China, according to the statement. The company's fuel cell center in China was already built last year.

"We are now literally picking up speed in the industrialization of the fuel cell," commented Stefan Hartung, chair of mobility solutions at Bosch. "Innovative technologies and strategic partnerships are the ideal fuel for rapidly achieving the goal of making road traffic as climate-neutral as possible."

The joint venture in China aims to "pool the technology and market expertise of both partners and contribute to the development of the Chinese fuel cell market and the transformation of the automotive industry there," the statement noted.

According to the Energy Saving and New Energy Vehicle Technology Roadmap 2.0 released by the China Society of Automotive Engineers (China-SAE), more than one million fuel cell-powered vehicles could be registered in China by 2030.

Bosch and Qingling Motors have already been collaborating in China in the areas of fuel injection and exhaust gas treatment for years, the companies noted.

"The recent cooperation not only represents a milestone on the path to the industrialization of the mobile fuel cell, but also a significant contribution to the further development of the Chinese automotive industry," said Du Weidong, chairman of Qingling Motors.