Hopium Machina Alpha 0
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Hopium seduced many, if not all, observers at the 2022 Paris Motor Show with its Machina, a very high-end sedan with an impressive design and a stunning hydrogen engine. However, once again, a great French adventure quickly came up against the difficulty of going from the drawing board and the first prototypes to industrial reality, which calls for very heavy investments. After the first turmoil, Hopium announced its receivership. But is all lost? Back on the turbulence that the company has gone through in recent months.
A descent into hell?
As of last January, the company had to part with around thirty employees and felt an urgent need for cash. The company then signed a third tranche of the mandatory loan concluded with Atlas Special Opportunities, an investment fund born in 2012 and generally involved in “green” adventures.
However, the troubles continued. Thus, the board of directors of the company thanked on March 15, 2023 Jean-Baptiste Djebbari, former Minister of Transport and chairman of the board of directors of Hopium. He was replaced by Alain Guillou, an engineer with 40 years of experience in the defense sector, at the confluence of the state and industrial fields.
On July 20, the listing of the Hopium share on the Euronext Growth market in Paris was suspended. The next day, the brand issued a press release announcing the opening of receivership proceedings with the Paris Commercial Court. An active procedure for a period of six months, possibly renewable once, aimed at enabling Hopium to continue its activity following the settlement of its debts and a reorganization.
The future ?
There are still reasons to hope that this tricolor nugget will find calmer waters. It thus continues to benefit from the support of its financial partner, Atlas Special Opportunities. This will bring the necessary funds for the development and prototyping of the Hopium hydrogen fuel cell.
Behind the scenes, many discussions are taking place to seek new industrial and commercial partners. The prospect of an ultra-sophisticated luxury sedan designed and manufactured in France has always appealed to politicians. Public support, perhaps from the 2030 Plan, could be put in place for the adventure to continue.