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Hydrogen-powered sedans: An uncertain future for Hopium?

Hydrogen-powered sedans: An uncertain future for Hopium?

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Hopium is a futuristic project of hydrogen-powered vehicles that could be marketed by 2025. After the Motor Show, the financing of the Crédit Agricole, a factory project in Normandy and the first pre-ordered sedans, everything seemed to be going well.  But the French company could well reduce the sail…

 

Last October, this sedan with a Back to the Future look was announced as the direct competitor of Tesla’s intelligent cars. Presented at the Paris Motor Show, it was a great success, with pre-orders already on the books and the announcement of the establishment of a first factory in Normandy, capable of producing 20,000 vehicles per year. However, not all the lights are green at the beginning of this new year.

 

A few days ago, the French start-up announced an analysis of its financing and cost structure as well as a potential reduction of its payroll. For the moment, the company does not mention any problems or difficulties, but it seems to have lost its splendor. Launched on the Paris Stock Exchange at the end of 2020, Hopium saw its value multiply by four for a few months, before returning to its initial stake. Last Friday, the stock was worth 6.40 euros.

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Faced with these financial complications, the company has provided details in a press release, published on January 13. Among the measures put in place as part of a new roadmap, there is notably a restructuring of the management team and staff: “These measures, which should enable the finalization of the development of the platform with a view to its industrialization, will consist in particular of sequencing the development of future prototypes and adjusting staffing levels, in order to better distribute the company’s financing needs in the coming months.”

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