Renault, Plug Power launch JV to foster hydrogen mobility in Europe
The equally owned joint venture HYVIA targets a 30% market share in hydrogen powered light commercial vehicles by 2030. Plans include the assembly of hydrogen recharging stations, to start by the end of 2021.
Renault Group, a dominant player in the automotive industry, and Plug Power Inc., a world leader in turnkey hydrogen and fuel cell solutions, launched their joint venture HYVIA that aims to lead the way to a complete green hydrogen ecosystem mobility across Europe. The initiative was outlined in a memorandum of understanding (MOU) agreement signed on January 2021.
HYVIA expects to be first-to-market with turnkey hydrogen mobility solutions for light commercial vehicles with fuel cells, hydrogen charging stations, supply of carbon-free hydrogen, maintenance and management of fleets, according to a company’s press release.
The equally owned joint venture will target a 30% market share in hydrogen powered light commercial vehicles in Europe by 2030, said CEO HYVIA, David Holderbach.
HYVIA's activities will be carried out at four existing Renault facilities in France. Plans are to begin the assembly of fuel cells and recharging stations by end of 2021, according to the companies.
The name HYVIA is a contraction of “HY” for hydrogen and the Latin word “VIA” for road, “embodying the ambition to open a new path towards low-carbon mobility”, say companies.
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