Stellantis plans to acquire stake in Symbio, a Faurecia Michelin hydrogen company and leader in fuel cell technologies for mobility industry
A leader in zero-emission hydrogen mobility, to become a significant player along with existing shareholders Faurecia and Michelin.
Carlos Tavares
Stellantis CEO
Stellantis is a pioneer and frontrunner in hydrogen mobility having launched mid-size vans in late 2021. The Company is pursuing an aggressive ambition as part of the Dare Forward 2030 strategic plan, which includes expanding its hydrogen offering to large vans as early as 2024 in Europe and 2025 in the U.S. while further exploring opportunities for heavy-duty trucks.
Patrick Koller
CEO of Faurecia
Florent Menegaux
CEO of Michelin
In October 2022, Symbio announced its HyMotive project to accelerate its industrialization and disruptive innovation, which will increase its total production capacity in France to 100,000 systems per year by 2028 while generating 1,000 additional jobs.
This transaction enables Symbio to expand its development by capitalizing on Stellantis' leadership in the European and American automotive markets.
The closing of the transaction is expected to occur in the first semester of 2023 and is subject to customary closing conditions, including regulatory approvals.