Riversimple plans a subscription model for its fuel cell car
Riversimple, a UK based hydrogen car start-up and Siemens UK have signed a Memorandum of Understanding (MoU) to collaborate for mass production of hydrogen-electric cars. The two companies signed the MoU which encompasses various aspects of the project ranging from sustainability initiatives to developing skills and securing finances.
Both companies will keep their focus on working towards full-scale production of Riversimple’s hydrogen-electric vehicles. Riversimple will benefit from Siemens expertise in planning and simulation for plant development and operations.
Riversimple plans to start commercial production of its eco coupe, the Rasa, in 2023, and a light goods vehicle by 2024. Each plant is expected to create around 220 direct skilled jobs and producing 5,000 vehicles annually. Riversimple plans to raise £150 million in funding over the next three years to finance these plants.
Riversimple told H2 Bulletin that the motors built to Riversimple’s design by iNetic in Andover. The powertrain is what we would term a ‘network electric powertrain ‘. The fuel cells are from Hydrogenics, now a subsidiary of Cummins.
Currently, Riversimple is making trial versions of Rasas trial with the general public based in Abergavenny in Monmouthshire. OZEV is supporting the trial as part of the HTP programme.
The company described to H2 Bulletin “We are designing our own [platform]. We are using a carbon composite monocoque so that the tooling will be very different from that of a steel auto platform.
Regarding the car price, the company said, “We never intend to sell a car. We will be offering cars on an all-inclusive, cost-transparent subscription basis; we are looking at costs that would be similar to the total cost of ownership of a basic diesel hatchback.”
Hugo Spowers, MD of Riversimple, commented: “Siemens is involved in green energy generation and has a history of enabling technology companies like ours. They share our passion for sustainability, hydrogen and the circular economy and have deep expertise in technology software and plant simulation as well as financing the tech sector.”
Brian Holliday, MD Siemens Digital Industries GB & Ireland, said: “We are delighted to be working with Riversimple, a UK company, which has designed and built a revolutionary electric car that runs on hydrogen.”