Herbert Smith Freehills advised Renault Group, a dominant player in the automotive industry, on the creation of the joint venture HYVIA, with Plug Power Inc. (NASDAQ: PLUG), a world leader in turnkey hydrogen and fuel cell solutions.
HYVIA expects to be first-to-market with turnkey hydrogen mobility solutions: light commercial vehicles with fuel cells, hydrogen charging stations, supply of carbon-free hydrogen, maintenance and management of fleets.
The joint venture is equally owned by the two partners. It will operate across four sites in France and intends to contribute to the decarbonization of mobility in Europe positioning France as industrial, commercial and technology leader.
Herbert Smith Freehills has advised Renault Group with a team composed of partners Christopher Theris and Rebecca Major, of counsel Paul Morton, and associate Merwan Becharef, on corporate and contractual aspects; and partner Sergio Sorinas and associates Agathe Esch and Anne-Cécile Bing on antitrust aspects.