Hydrogen: Stellantis wants to take a stake in a subsidiary of Michelin, with what objective(s)?

Stellantis will become a shareholder of Symbio, a company specializing in hydrogen.

The automaker has entered into exclusive negotiations with the two owners of Symbio.

Stellantis discusses with Faurecia and Michelin

While in the field of renewables, the automotive sector talks a lot about electric vehicles, another type of energy is less often cited: hydrogen. A solution for cleaner energy that Stellantis wants to explore.

The manufacturer has just announced the start of exclusive negotiations with Michelin and Faurecia, the two players who own the Symbio joint venture. Its objective is to take a stake in the capital of Symbio, a leader in zero-emission hydrogen mobility “. These discussions should be completed in the first half of 2023, to allow Stellantis to ” play a major role ” in the area.

” Symbio’s technology roadmap fits perfectly with Stellantis’ plans for the deployment of hydrogen solutions in Europe and the United States “explained general manager Carlos Tavares.

Great ambitions until 2028

Symbio, which produces fuel cells, is already a supplier to Stellantis. The firm’s objective is to accelerate the development and sale of low-emission vehicles, without giving up on electric vehicles.

” At Michelin, we are convinced that hydrogen fuel cells will make a major contribution to decarbonizing mobility as well as other sectors. […]. The entry of Stellantis into the capital of Symbio would reinforce this conviction and allow us to accelerate the tremendous industrial momentum that we have boosted with Faurecia. commented Michelin CEO Florent Menegaux.

And the ambitions are high, since Symbio wants to be able to produce 100,000 systems annually by 2028, which should also lead to the creation of 1,000 jobs in France. Stellantis has already shown ambitions in the field by marketing its first medium-sized hydrogen utilities at the end of last year. The group, resulting from the merger of Peugeot-Citroën and Fiat-Chrysler, wants to produce hydrogen solutions for large utility vehicles from 2024-2025.

Sources: Zonebourse, Capital, Faurecia