Hyvia, a joint venture between Renault and Plug Power focused on hydrogen mobility, is reportedly nearing bankruptcy.
According to multiple labor unions, Hyvia has informed employee representatives that it is currently unable to meet its financial obligations, suggesting that the company is “probably heading towards liquidation.”
The difficulties in the automotive industry continue to mount as the year draws to a close. The inadequately developed hydrogen mobility market has severely impacted Hyvia, as union declarations from Force ouvrière, confirmed by the CGT, have revealed. Renault’s spokesperson also acknowledged that Hyvia is in a “complex” situation and is considering filing for bankruptcy protection. The company is actively working with both shareholders to find viable solutions.
Founded in 2021, Hyvia was established to create zero-emission utility vehicles powered by hydrogen fuel cells. The company employs 110 workers at Renault’s factory in Flins. Hyvia had plans to increase production in 2025 with the introduction of the new Renault Master H2-Tech.
The potential bankruptcy of Hyvia highlights broader challenges facing the automotive sector, particularly in the transition to sustainable energy solutions. As the internal combustion engine phase-out progresses, investments in technologies like hydrogen fuel cells face market and infrastructural challenges.
