French Hydrogen Taxi-Rental Firm HysetCo Raises €200 Million

HysetCo SAS, a startup that rents hydrogen-powered electric vehicles to hundreds of taxi drivers around Paris, raised nearly €200 million ($218 million) to expand its operations beyond the French capital.

The funding came from three investors led by Hy24, which specializes in hydrogen infrastructure. Raise Impact and Eiffel Investment Group also participated, the companies said in a joint statement.

The bet on clean-hydrogen mobility, still a tiny market, comes amid signs of weak sales of battery-powered electric vehicles in some markets after governments rolled back subsidies. While hydrogen fuel-cell cars are more expensive than battery EVs — ...