Renault's hydrogen subsidiary Hyvia faces bankruptcy

French hydrogen energy company Hyvia is trying to avoid bankruptcy. The Versailles Commercial Court has given Hyvia a few weeks to complete bankruptcy procedures and find a buyer. Hyvia was established in 2021 as a joint venture between French automaker Renault and US company Plug Power. Although Hyvia has made early investments and attempts in the field of hydrogen energy travel, its prospects are not optimistic due to the lack of a hydrogen energy market and high development costs.