Renault South Africa’s new joint venture with fuel-cell maker Plug Power Inc. comes up with idea of building hydrogen-powered vans. The company takes a step ahead for good cause and will launch the hydrogen van with a new name and a sooner time line to hit the market this year.
The joint venture together named it as Hyvia, who plans to begin manufacturing three types of fuel-cell vans at existing Renault plants in France by 2021 end. Talking about the three of models are based on Renault’s Master line of vans where all will use the same electric motors that now power the all-electric version of the Master. The joint venture was announced by the two companies in January. David Holderbach, Hyvia’s chief executive officer, said in an interview explains his motive fir coming up with this joint venture. The venture represents a bet by Renault that hydrogen will play a key role in transportation as the world shifts from fossil fuels. In the new name, a combination of “hydrogen” and “via,” the Latin word for road Is seen clearly. This great idea came up releasing that fuel-cell vehicles produce no greenhouse gas emissions, but they can refuel with hydrogen in as little as three minutes – far faster than an electric vehicle can recharge its battery pack.
Plug Power and Renault each own 50% of Hyvia, and the two companies expect to invest at least 65 million euros in the venture on a pro rata basis through 2022. Meanwhile, two of the vans will be designed for delivering goods, while the third will be configured as a bus. Hyvia also will supply customers with hydrogen to run the vans, and charging stations for delivering the hydrogen.
More to know about the two giant companies emerging together for good cause. Plug Power built its business making fuel cells but the company has signed a series of deals including making and distributing hydrogen. While, a France Renault plant already makes the Master van, will now build much of the new vehicles. The joint venture will be based in Villiers-Saint-Frederic, home of Renault’s engineering and development center for light commercial vehicles.