RNSDF - Plug Power Renault launch JV to make hydrogen-powered vans this year

Plug Power (PLUG) and Renault (RNLSY) say they have started their Hyvia joint venture to develop hydrogen-powered light commercial vehicles.The companies envision Hyvia as the "first-to-market with turnkey hydrogen mobility solutions: light commercial vehicles with fuel cells, hydrogen charging stations, supply of carbon-free hydrogen, maintenance and management of fleets."The JV plans to begin building three types of fuel-cell vans at existing Renault plants in France by the end of this year.The three models will be based on the Renault Master platform of vans and use the same electric motors that now power the all-electric version of the Master."The objective, obviously, is speed - that's our first concern," Hyvia's CEO David Holderbach tells Bloomberg.Plug Power "has ambitious profitability targets and is making the right moves to achieve them," The Value Trend writes in a bullish analysis published recently on Seeking Alpha.

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Plug Power, Renault launch JV to make hydrogen-powered vans this year