Stellantis plans to invest in symbioa hydrogen company owned by Faurecia Michelin and a leader in fuel cell technologies for the mobility industry

December 23, 2022

Faurecia, a FORVIA group company, Michelin and Stellantis announced today the start of exclusive negotiations for Stellantis to acquire a substantial stake symbioa leader in zero-emission hydrogen mobility, to become a major player alongside existing shareholders Faurecia and Michelin.

“Symbio’s technical roadmap aligns perfectly with Stellantis’ hydrogen adoption plans in Europe and the US,” said Carlos Tavares, CEO of Stellantis. “This move will accelerate the pace of development to offer our customers low-emission products that go beyond traditional electric vehicles. We are grateful to the Faurecia, Michelin and Symbio teams for their commitment to innovation, excellence and collaboration in our work to achieve decarbonized mobility.”

Stellantis is a pioneer and frontrunner in hydrogen mobility, having launched mid-size vans in late 2021. The company follows as part of the Dare forward 2030 Strategic plan that envisages expanding hydrogen supply to large vans as early as 2024 in Europe and 2025 in the US, while further exploring the opportunities for heavy trucks.

“By intending to acquire a stake in Symbio, Stellantis validates the robustness of Michelin and Faurecia’s approach to create a global leader in zero-emission mobility. The new structure will accelerate and globalize Symbio’s growth for the benefit of its customers,” said Patrick Koller, CEO of Faurecia.

Florent Menegaux, CEO of Michelin, said: “Michelin is convinced that hydrogen fuel cell technology will make an effective contribution to the decarbonisation of mobility and even beyond. This has led Michelin to pioneer this technology for more than 20 years. The arrival of Stellantis in the capital of Symbio would reinforce this belief and catalyze the enormous industrial dynamism…