Groupe Renault and Plug Power will launch a 50-50 joint venture in France to serve the fast-growing market of fuel cell light commercial vehicles (LCV), taxis and commercial people transportation.
A Memorandum of Understanding (MoU) was today (12th Jan) signed for the venture which will offer unique, comprehensive, differentiated products and solutions to the LCV market, designed around three key pillars of R&D, manufacturing and sales.
Under the R&D pillar, Groupe Renault and Plug Power intend to establish an innovation centre for the development of fuel cell technology and hydrogen fuel cell LCV vehicles based on existing and future Groupe Renault platforms.
For 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, establishing a vertically integrated fuel cell stack and system manufacturing centre in France.
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