GROUPE RENAULT & PLUG POWER JOIN FORCES TO BECOME LEADER IN HYDROGEN LCV MARKET

  • Groupe Renault and Plug Power are set to work together to produce a hydrogen fuel cell light commercial vehicle
  • An agreement signed between the two companies will see them launch the joint venture by the middle of 2021
  • The partnership is aiming for 30% share of the fuel cell-powered light commercial vehicle (LCV) market in Europe
  • Based in France, the partnership will deliver state-of-the-art innovation and manufacturing capabilities for hydrogen fuel cell systems and their integration in vehicles
  • The partnership provides a unique proposition offering complete fuel cell vehicle solutions with hydrogen fuel, refueling infrastructures and services to customers
  • This strategic project supports the uptake of more sustainable mobility in Europe with the adoption of clean energy solutions, positioning the Groupe as a key player in hydrogen fuel cell innovation

Groupe Renault and Plug Power Inc. – a global leader in fuel cell systems and hydrogen-related services – have signed a Memorandum Of Understanding (MOU) to launch a joint venture with the aim of becoming the leader in hydrogen fuel cell technology for light commercial vehicles (LCVs).

Based in France, the partnership will launch in the middle of 2021, positioning the two companies at the forefront of research and development, transformation, manufacturing and sale of fuel cell-powered vehicles and hydrogen turn-key solutions. The joint venture will serve the growing market for fuel cell LCVs, taxis and commercial passenger vehicles.

Bringing the strengths of both organisations together, the partnership will combine Groupe Renault’s pioneering experience in new and sustainable energies as well as its strong position in electric light commercial vehicles with Plug Power’s 20 years of experience in fuel cell technologies and hydrogen solutions.

A global leader in hydrogen ecosystem solutions, Plug Power has deployed more than 40,000 fuel cell systems, designed and built 110 refueling stations that dispense more than 40 tonnes of hydrogen daily, and is a technology leader in green hydrogen solutions via electrolysis.

The partnership intends to offer unique, comprehensive products and solutions to the LCV market, based around three key pillars:

  • Research and Development: Groupe Renault and Plug Power intend to establish an Innovation Centre for the development of fuel cell technology and hydrogen fuel cell LCVs based on existing and future Groupe Renault platforms. The initial focus will be on the heavy van segment utilising the Trafic and Master commercial vehicle platforms. This centre will be unique in combining hydrogen fuel cell R&D expertise and vehicles with integrated engineering teams.
  • Manufacturing: The joint venture will combine the vehicle manufacturing capabilities of Groupe Renault with the fuel cell and hydrogen system manufacturing knowledge of Plug Power. A vertically integrated fuel cell stack and system manufacturing centre in France for integration into LCV vehicle platforms will be established. In addition, this manufacturing centre will provide hydrogen refueling systems, a key part of the hydrogen ecosystem.
  • Sales: To accelerate adoption by commercial fleets, a comprehensive ecosystem of support will be created, offering vehicles, hydrogen fueling stations, hydrogen fuel and services to customers.

Groupe Renault and Plug Power will begin sales of fuel cell LCVs in Europe starting in 2021 with pilot fleet deployments.

Luca de Meo, CEO of Renault, said: “This joint-venture project is fully aligned with our strategy to offer market ready hydrogen solutions for LCVs. With Plug Power, we will build a unique end-to-end fuel cell value chain and offer turn-key solutions for customers including vehicles, refueling stations and decarbonised hydrogen deliveryWith this project, our ambition is to position France as a bridgehead of industrial, technical and commercial development in this key technology, and to strengthen our leadership in Europe as our objective is to become the European leader in fuel cell LCV”.

Andy Marsh, CEO of Plug Power, said: “Plug Power prides itself on being at the leading edge of innovation in the hydrogen fuel cell industry, which is why we are thrilled to partner with Groupe Renault to become a leader of market fuel cell heavy vans in Europe. We look forward to working with our new partners to combine our technology with their decades long experience leading the European automotive market.”

Groupe Renault and Plug Power will provide the standalone joint venture with the required resources to achieve its objectives. The finalisation of this partnership is pending on the conditions normally applicable to this kind of operation, among which the presentation to employee representative bodies in accordance with applicable regulations and the potential clearance from the relevant competition authorities and should be completed by the end of the first half of 2021.

END

About Groupe Renault
Groupe Renault, which has manufactured cars since 1898, is an international group operating in 134 countries. In 2019, it sold nearly 3.8 million vehicles. Worldwide, the group employs more than 180,000 people and has 40 manufacturing sites and 12,700 points of sale. To address the major technological challenges of the future and continue to pursue its profitable growth strategy, Groupe Renault focuses on international expansion. To do this it builds on the synergies between its five brands (Renault, Dacia, Renault Samsung Motors, Alpine and LADA), the electric vehicle, and its unique alliance with Nissan and Mitsubishi Motors. With a 100% Renault owned team committed to the Formula 1 World Championship since 2016, the brand is involved in motorsports to boost innovation and name recognition.

In the UK, Groupe Renault UK has nearly 150 dealers selling the range of Renault cars, LCVs and Dacia. Groupe Renault UK sales totalled 109,952 vehicles in 2019.

About Plug Power
Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell turnkey solutions. The company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while meeting sustainability goals. Plug Power created the first commercially viable market for hydrogen fuel cell technology. As a result, the company has deployed over 40,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fuelling, and lower operational costs. Plug Power’s vertically integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, The Southern Company, Carrefour, and Walmart. The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero emission on-road vehicles, robotics, and data centres. Learn more at www.plugpower.com.

For further information, please visit www.press.renault.co.uk or @RenaultUKPR or contact:

Matthew Bendall
Head of Press & Public Relations
matthew.bendall@renault.co.uk – 01923 697653 – 07814 990247

Lauren Prema
Press Relations Manager
lauren.prema@renault.co.uk – 01923 697203 – 07741 233530

Charlie Roper
Brand Affairs Manager
Charlie.roper@renault.co.uk – 01923 697778 – 07816 641843

Gemma Croft
Press Fleet Manager
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Yasmin Rhodes
Press Officer
yasmin.rhodes@renault.co.uk – 01923 697289 – 07385 398222

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Groupe Renault & Plug Power join forces to become leader in hydrogen LCV market

Groupe Renault & Plug Power join forces to become leader in hydrogen LCV market

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