Uber invests in HysetCo's hydrogen taxis and VTC
- Investment is a convertible loan to support HysetCo’s growth and strengthen Uber’s taxi offer.
- HysetCo aims to integrate nearly 2,000 premium hydrogen taxis into the platform over the next five years.
- From end‑2026, HysetCo hydrogen vehicles will represent one in five cars eligible for the Business Taxi offer.
- HysetCo already operates 800+ hydrogen vehicles and reports 90 million km traveled without emissions since 2021.
Deal and purpose
Uber has invested in HysetCo via a convertible loan to support HysetCo’s expansion and to strengthen Uber’s taxi offer; it is the first time Uber has invested in a French company. The funding is intended as an industrial lever to deploy hydrogen solutions that let taxi and VTC drivers access the ride‑hailing platform and hydrogen vehicles under managed conditions.
Fleet rollout and commercial positioning
Uber has been present in the Taxi segment since October 2022 and expanded its services with fixed‑price taxi rides in 2025 and a Business Taxi product for corporate clients. HysetCo’s hydrogen vehicles are scheduled to represent one in five cars eligible for the Business Taxi offer from the end of 2026, with an objective to integrate nearly 2,000 premium hydrogen taxis over the next five years. HysetCo’s taxi clients will be able to operate on the platform and tap into existing demand across some 5,000 Île‑de‑France taxis.
Industrial model and scale
HysetCo operates an integrated hydrogen mobility model—vehicle provision, maintenance, insurance, replacements, driver onboarding and 24/7 station access—already in place in Île‑de‑France. The company reports more than 800 vehicles in operation and 90 million km traveled without emissions since 2021. Opening to the VTC market is presented as the next step for scaling hydrogen mobility.
Source: Hy24