(CercleFinance.com) – Faurecia, Michelin and Stellantis announce that they have entered into exclusive negotiations aimed at enabling Stellantis to take a stake in the capital of Symbio, a leader in zero-emission hydrogen mobility, alongside existing shareholders Faurecia and Michelin.
“The entry of Stellantis into the capital of Symbio would strengthen our conviction in hydrogen fuel cells and allow us to accelerate the tremendous industrial momentum that we have given impetus with Faurecia,” comments Florent Menegaux, CEO of Michelin.
The closing of the transaction, which would allow Symbio to accelerate its development, is expected to take place during the first half of 2023 and will be subject to customary conditions precedent, including regulatory approvals.