The automaker Renault and Plug Power, a world-leading supplier of fuel cell systems and hydrogen-related services, want to build a 50: 50 joint venture (JV) based in France. Together, the two companies are aiming to achieve a market share of more than 30 percent with their on the use in light commercial vehicles (LCV) for hydrogen solutions in Europe. Let’s start this year: The joint venture wants to start in 2021 with the marketing of fuel cell LCVs in Europe and use in pilot liquors.
The joint venture, whose framework conditions Renault and Plug Power have set in a Memorandum of Understanding, is intended to build up state-of-the-art innovation and production capacities for hydrogen fuel cell systems and their integration in vehicles in France in France. The partnership offer a unique value promise, share the two companies: turnkey solutions for fuel cell vehicles with hydrogen, tank infrastructures and services.
The strategic project support the decarbonization of mobility in Europe through the introduction of clean energy solutions and the creation of innovative value chains. Renault and Plug Power want to be important actors in the areas of research and development in the coming years (F&E), transformation, production and sale of vehicles with fuel cell drive and turnkey hydrogen solutions ascend. The joint venture platform is intended to operate the fast growing market for light commercial vehicles with fuel cells, taxis and personal transport.
In the joint venture Renault and Plug Power can use their own statement to optimally use their respective strengths. Renault has a strong position on the commercial vehicle market, Plug Power has 20 years of experience in terms of fuel cell technologies and hydrogen solutions: the company has received its own information already more than 40.000 fuel cell systems produced and 110 filling stations designed and built, which daily deliver more than 40 tons of hydrogen. Plug Power is also under the technology leaders in environmentally friendly hydrogen solutions by electrolysis.
“This joint venture project is in full-line with our strategy to offer market maturity hydrogen solutions for light commercial vehicles. With Plug Power, we will build a unique end-to-end value chain for fuel cells and offer turnkey solutions for customers, including vehicles, petrol stations and the delivery of CO2-free hydrogen. With this project, we want to position France as a bridgehead of industrial, technical and commercial development in this key technology and strengthen our leadership position in Europe – our goal is to become the European market leader for fuel cell LCVs.”- Luca de Meo, CEO Renault
The joint venture intends to offer unique, comprehensive, differentiated products and solutions on the market for light commercial vehicles. The initial focus will be on the segment of delivery van, on the vehicle platforms of the well-known and popular Renault transporters Trafic and Master. In parallel, the development and production of refueling systems is planned, which are an integral part of the green hydrogen ecosystem.
The Groupe Renault and Plug Power want to provide the independent joint venture the necessary resources to achieve his goals. The conclusion of this joint venture project is under the conditions normally applicable to this type of enterprise, including the submission of employee representatives in accordance with applicable rules and approval by the competent competition authorities, and should be completed by the end of the first half of 2021.
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3 thoughts on “Renault Plug Power: Market leadership in hydrogen commercial vehicles”
Renault moves with hydrogen in the dead end – companies that can expect show Renault the bird.
Renault was with Zoe and Twizzy pioneer with electric vehicles, but now is probably a “Trump” (Trottel) at the rudder.
There will be a transitional period, in electromobility and hydrogen to try their luck, the political will in France and Germany wants it. With Plugpower this is an exciting time, just where Bosch and others are right.
Finally a joint venture of a (hopefully remaining) European brand that wants to expand this form of future e-mobility. I wish you success! – as well as with the Zoe, who is ideal as a BEV for urban, short and medium routing.