Hylane, a hydrogen truck leasing company, has secured €25 million in funding from the German government to expand its fuel cell electric vehicles fleet and reduce rental rates for customers. The company has added Iveco to its list of manufacturers.
The Federal Ministry for Digital Affairs and Transport (BMDV) announced the funding at the Munich transport logistic show this week. Hylane added it would pass on 100 per cent of the financing to its customers through reduced rental rates.
At the same time, the money will help the company to purchase 78 fuel cell electric lorries, although it remains unclear whether these will come from its new partner Iveco. In addition to supplying commercial vehicles, Iveco will deliver maintenance and repairs at selected and certified workshops in the company’s service network.
Christian Sulser, Chief Sales and Marketing Officer of Iveco Magirus AG, commented: “Hylane is one of our first partners in Germany to rely on our expertise in the field of fuel cell trucks – we look forward to a good cooperation!”
Iveco announced yesterday that it would build hydrogen trucks without its former partner Nikola Motors, in future.
For Hylane, Iveco is not the only manufacturer in the portfolio. The range includes trucks from Hyzon Motors, Hyundai, and Daimler Truck in cooperation with Clean Logistics Technology and MAN through a conversion solution by Framo eTrucks with fuel cells by Bosch.
Hylane initially targeted holding over 150 fuel cell trucks by 2024. In today’s announcement, however, the number became more concrete: adding 78 vehicles to the existing 44 FCEVs, the fleet will include 122 hydrogen lorries in the next step.
Hylane is a subsidiary of the German insurance company DEVK. Its growing list of leasing clients includes Deutsche Bahn logistics company DB Schenker which opted for Hyzon trucks. At the Munich show, Hylane also announced signing another Deutsche Bahn company, DB Cargo Full Load Solutions (FLS). The transport company will use the rented tractor units in the Hamburg region but did not disclose which type.
Hylane follows a pay-per-use business model so that rental clients pay per kilometre driven. Service and maintenance are included. The Cologne-based company is also working to install refuelling infrastructure with Linde and the H2 Mobility consortium.
hylane.de (in German)
Keyword: Hylane adds Iveco as FCEV supplier with €25 mn funding boost