(AOF) – Stellantis plans to take a stake in the capital of Symbio, a joint venture between Faurecia and Michelin in the field of hydrogen and leader in fuel cells for the mobility sector. The three groups have started exclusive negotiations from today. “Symbio’s technology roadmap fits perfectly with Stellantis’ plans for the deployment of hydrogen solutions in Europe and the United States,” said Carlos Tavares, CEO of Stellantis.
“This breakthrough will allow us to accelerate the development and marketing of low-emission products for our customers, in addition to traditional electric vehicles. We warmly thank the Faurecia, Michelin and Symbio teams for their collaboration and their commitment to the innovation and excellence in our common journey towards carbon-free mobility.”
“This new configuration will allow Symbio to accelerate its growth and strengthen its presence on a global scale”, declared Patrick Koller, CEO of Faurecia.
In October 2022, SSymbio announced the implementation of its HyMotive project aimed at accelerating its industrialization and the development of disruptive innovations, a project that will allow the company to reach a total annual production capacity in France of 100,000 fuel cell systems by 2028 with the creation of 1,000 jobs in France.
Closing of the transaction is expected to take place in the first half of 2023 and will be subject to customary conditions precedent, including regulatory approvals.