The French maker of high-end hydrogen cars just announced cooperation with CA Consumer Finance, the consumer credit division of Crédit Agricole, with an order worth 1.2 billion euros at the conclusion of the Paris Motor Show.
This is the significant announcement that is made just before the Paris Motor Show closes. According to our information, a relationship between CA Consumer Finance, a division of Crédit Agricole, and Hopium, a French manufacturer of high-end hydrogen vehicles, has recently been formed. The supply of 10,000 vehicles from the Agilauto brand, which specializes in car sales and financing for the French banking group, of the Machina model within the scope of programs intended for individual or business customers, is at the core of this partnership.
The chairman of the board of directors of Hopium, Jean-Baptiste Djebbari, stated in a joint news release that “this is part of the French and European industry regeneration in the manufacturing of clean vehicles.”
Due to the close proximity of the two parties’ stands in the Parc des Expositions at Porte de Versailles, the partnership was established throughout the week. “Olivier Lombard, CEO of Hopium, insisted that we are sending a very powerful signal. It represents the blow by demonstrating that influential parties are concerned about mobility in the future.” And with good reason; the firm has already received 1,000 pre-orders for the Machina sedan, which will start being constructed in Vernon, Normandy, in 2025.
For Hopium, a unique kind of cooperation
Even if Hopium has technology partners like Saint Gobin or Plastic Omnium, this is the first time the producer has conducted a business of this size. According to Olivier Lombard, whose company intends to suggest Crédit Agricole Consumer Finance’s financing options to its individual and business clients, “It’s a good start, but we’re not closing the door to additional partnerships.”
Crédit Agricole has supported the production of electric vehicle makers in the past, so this is not their first attempt at carbon-free transportation. On the other side, this is their first collaboration with a private vehicle powered by hydrogen.
Improve model accessibility
This collaboration has this as its goal. In fact, the provisional order of 1.2 billion euros provides a rough estimate of the cost to buy a Machina. “According to Etienne Royol, commercial director of the Auto markets at Crédit Agricole Consumer Finance, the car has a very strong range and recharging capability. Additionally, it’s a great car, therefore it shouldn’t be reduced to just these aspects.”
Etienne Royol says, “It makes logical that the first French bank would partner with the first French manufacturer of hydrogen cars. This is especially true now that low-emission zones and carbon neutrality goals have been implemented.
Hopium plans to establish itself as the hydrogen standard for light mobility, or private automobiles, while other hydrogen companies are already focusing on heavy mobility, particularly commercial vehicles. According to Etienne Royol, “The Agilauto subsidiary will make these vehicles available to its customers, particularly through long-term rental (LLD) or even rental with option to purchase (LOA) at competitive prices.”