Hyvia files for bankruptcy

Hyvia, the Renault subsidiary, has filed for bankruptcy after failing to secure a “credible” takeover offer during a court-ordered search for potential buyers. A joint venture between Renault and fuel cell manufacturer Plug, Hyvia required a €120 million R&D investment. Since its inception in 2021, the company employed 108 people and produced just 62 vehicles. This collapse signals a setback for the hydrogen ecosystem, particularly in the supply of commercial vehicles in Europe. Going forward, Stellantis will be the sole player in this emerging sector.