Hydrogen vans, Renault and Plug Power joint venture HYVIA “close to bankruptcy”

Sales of hydrogen-powered vehicles are going slowly all over Europe. Like other renown cases in the automotive sector, in order to develop innovative technologies and powertrain options, Renault and Plug Power had to invest quite a lot of money in the project, with nearly no return on investment so far. No official comments have been released so far.

By segreteria

Renault and Plug Power joint venture HYVIA, founded with the aim of manufacturing and selling hydrogen fuel cell powered vans, may be close to bankruptcy, according to some media reports. The joint venture (here’s our interview with CEO David Holderbach, dating back to the end of 2021) had the ambitious target to reach a 30% market share of fuel cell vans by the end of the decade.

Is HYVIA actually close to bankruptcy?

However, sales of hydrogen-powered vehicles are going slowly all over Europe. Like other renown cases in the automotive sector, in order to develop innovative technologies and powertrain options, Renault and Plug Power had to invest quite a lot of money in the project, with nearly no return on investment so far.

The partners haven’t released any official statement yet. French news agency AFP quoted a source from French trade union, talking about HYVIA “probably heading for liquidation”.

Highlights

From the new electric generation (with range up to 700 km) to the re-engineered D13 engines. Volvo Trucks have multiple aces up the sleeve

At the Volvo Trucks Experience Center in Gothenburg, we got a closer look at the major innovations Volvo is introducing in anticipation of its centennial next year. From the updated D13 diesel and natural gas engines to the new generation of electric trucks, now available with a “monster” range of u...

Related articles

Tata Motors to complete Iveco Group acquisition by Q3, 2026

The entire operation was announced more or less one year ago. The news comes from several media platforms, including Indian ET Auto. The international website quotes Tata Chairman N Chandrasekaran, speaking at the company's annual general meeting.