Renault – Hydrogen Vehicle Project Hyvia on the Brink of Bankruptcy
It is difficult to see a future for hydrogen in the automotive and utility sector. Hyvia, a joint venture created in 2021 from an equal partnership between Renault and the American hydrogen specialist Plug Power, could soon file for bankruptcy.
While electric seems to be the obvious path to achieving a carbon-neutral auto industry, some manufacturers prefer to play on different tables by invoking the multi-energy card, with hydrogen-powered cars.
This is the case, for example, with Toyota and BMW . For the former, a large sedan already exists with the Mirai , a model sold at a high price and which can be seen regularly thanks to the Hype taxi company in Paris, which is largely subsidized to allow drivers to drive this car. What’s more, they can take advantage of one of the rare hydrogen charging stations in Île-de-France, located at the Pont de l’Alma.
In the case of BMW, we are a little more cautious. The manufacturer has nevertheless recently announced the marketing of a series hydrogen vehicle by 2028 with an iX5 .
We can think what we want about it, but hydrogen seems to be more of an energy source destined for heavy goods vehicles . Because even for utility vehicles, it is not the panacea, as evidenced by the various models marketed by Stellantis at a high price: around 70,000 euros excluding tax!
Already game over for Renault?
Renault also wants to believe in hydrogen. In 2021, the manufacturer founded Hyvia, a joint venture between Renault and the American fuel cell specialist Plug Power.
But things are starting to look dire for Hyvia. Indeed, staff representatives were recently informed of the company’s financial difficulties . According to union sources reported by AFP , Hyvia, which employs 110 people in Flins (Yvelines), indicated that it was currently in a state of cessation of payments and was ” probably heading towards liquidation “.
For its part, Renault’s management is more cautious. A spokeswoman for the manufacturer said that a plan to file a declaration of cessation of payments was under consideration, without confirming a final decision.
The company is hardly more reassuring. The company’s spokesperson acknowledged a “complex” situation . She specified that Hyvia was working
Daily with its two shareholders to find solutions .
However, she points to
The much too slow emergence of hydrogen mobility systems in Europe” , which is hampering market prospects.
The Renault Master H2-Tech, a stillborn project?
Let us recall that in 2022, Hyvia started assembling fuel cells in a 3,000 m² space within the Renault factory in Flins (Yvelines), where many small Renaults were produced, including the Zoé .
These batteries equip hydrogen utility vehicles assembled by Renault in Batilly (Meurthe-et-Moselle). A ramp-up was planned for 2025 with the launch of a new model, the Renault Master hydrogen . Today, this project seems more than ever in jeopardy.
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Renault – Hydrogen Vehicle Project Hyvia on the Brink of Bankruptcy, source
