Since the year began, Plug Power landed two major joint venture partners. South Korea's SK Group took a 10% equity stake in Plug and will work with the company to develop hydrogen fuel-cell solutions for vehicles and refilling stations. Meanwhile, French auto company Renault formed a joint venture with Plug to tackle Europe's light commercial vehicle market. Following these joint venture announcements, the company introduced a gross billings target of $1.7 billion by 2024, which would almost quadruple its forecasted sales for 2021.