Uber makes its first-ever investment in a French company — and bets on hydrogen taxis in Paris

On 22 April 2026, Uber and French company HysetCo announced a strategic partnership that gives hydrogen mobility in Paris a significant boost. Uber is investing via a convertible loan — the first time in its history that the American platform has backed a French company. The investment is not symbolic: Uber intends to actively deploy hydrogen taxis on its own platform, starting in the Île-de-France region.

Who is HysetCo?

HysetCo is Europe's market leader in integrated hydrogen mobility for taxis and corporate fleets. The company already operates more than 800 vehicles in the greater Paris area and runs its own hydrogen refuelling network, open 24 hours a day, seven days a week. Since its founding, the fleet has covered over 90 million kilometres without direct emissions.

HysetCo offers drivers a fully managed package covering vehicle, maintenance, insurance and fuel in a single formula. Its shareholders include Hy24 (majority stake), Air Liquide, TotalEnergies and Toyota.

What does the partnership involve?

Uber is investing via a convertible loan to support HysetCo's growth and strengthen its taxi offering in Paris. In concrete terms:

• By end of 2026: 1 in 5 vehicles in Uber's Business Taxi offer will be a HysetCo hydrogen vehicle

• Within 5 years: integration of nearly 2,000 premium hydrogen taxis on the Uber platform

• Target market: business customers via Uber for Business

The partnership also opens the private hire vehicle (PHV) market to HysetCo — a new segment alongside its existing focus on licensed taxi drivers.

Why hydrogen for taxis?

For intensive use cases like taxis and ride-hailing, hydrogen offers a practical advantage that battery-electric cannot match: refuelling takes only a few minutes. For drivers who are on the road all day, charging time means lost income. Hydrogen solves that problem without compromising range or driving comfort.

Urban pressure is mounting too. Major European cities are introducing increasingly strict low-emission zones, meaning taxi drivers will need to switch to clean vehicles regardless. Hydrogen is a fully viable alternative alongside battery-electric.

First investment in France — a clear signal

The fact that Uber is investing in a French company for the first time — and specifically in a hydrogen player — is telling. It signals that major international platforms are taking hydrogen seriously as a scalable technology for urban mobility, not just as a niche, but as a structural part of a sustainable fleet.

HysetCo CEO Loïc Voisin stated that infrastructure is in place, vehicles are available and the market is ready. Laureline Serieys, General Manager of Uber France, said the partnership anchors Uber more firmly in the Paris taxi market and marks a new step towards clean mobility.

Sources:

• RSE Magazine / HysetCo press release (22-04-2026)
• Uber Newsroom
• H2 Mobile
• H2Today
• La Revue du Digital
• Industrie Mag