Hyvia has announced its compulsory liquidation. This joint venture led by Renault and Plug has not held up in the face of the too slow start of the hydrogen market in Europe.
In a press release, Hyvia has made its compulsory liquidation official. For those who do not know, Hyvia is the joint venture founded in 2022 between Renault and the American fuel cell manufacturer Plug. The company specialized in hydrogen utilities. For the Diamond, it was a way to put a wheel in the hydrogen sector.
But as Hyvia explains in its press release, the company, which had been placed in receivership in December 2024, this hasty end results from "the too slow emergence of hydrogen mobility ecosystems in Europe and the very high development costs required for hydrogen innovation".
Luca de Meo, CEO of Losange, had also indicated a few days ago before the Economic Affairs Committee of the National Assembly that there is clearly no hydrogen market in Europe. The demand is not there, nor is the infrastructure to distribute the fuel, the two forming a vicious circle. In addition, the quantity of green hydrogen, produced from renewable energies, was also insufficient.
Hyvia had nevertheless unveiled in the fall of 2024 a promising hydrogen version of the new Master, announcing 700 km of autonomy. The model was to be launched at the end of 2025. It will therefore not see the light of day.
The company is ending, a decision that "follows the absence of a credible takeover offer as part of the process of searching for buyer candidates led by the judicial administrator".
Based in Flins, Hyvia employed 110 people. Employees will all be supported or reassigned, with the support of shareholders and the implementation of an Employment Protection Plan.
Renault is not, however, completely closing the door to hydrogen. The new generation of electric utility vehicles.
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