Faurecia, a company of the Group FORVIA, Michelin and Stellantis, announced starting today exclusive negotiations for Stellantis to acquire a substantial stake in Symbio, a leader in zero-emission hydrogen mobility, to become a significant player along with existing shareholders Faurecia and Michelin.
“Symbio’s technical roadmap perfectly matches with Stellantis’ hydrogen roll-out plans in Europe and the U.S.,” said Stellantis CEO Carlos Tavares. “This move will foster the speed of development to bring low-emission products to our customers beyond traditional electric vehicles. We’re grateful to the teams at Faurecia, Michelin and Symbio for their commitment to innovation, excellence, and collaboration as we all work to achieve decarbonised mobility.”
Stellantis is a pioneer and frontrunner in hydrogen mobility, launching 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.
“By the intention of acquiring a stake in Symbio, Stellantis confirms the robustness of Michelin and Faurecia’s approach to creating a global leader in zero-emission mobility. The new setup will accelerate and globalise Symbio’s growth to the benefit of its customers,” declared 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 decarbonising mobility and even beyond. This led Michelin to pioneer this technology for more than 20 years. The arrival of Stellantis in SymSymbio’spital would reinforce this conviction and catalyse the tremendous industrial momentum we have built with Faurecia.”
In Octo” er 2022, Symbio announced its HyMotive project to accelerate its industrialisation and disruptive innovation, increasing 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 capitalising on Stellantis’ leaderStellantis’ in European and American automotive markets.
The transaction’s closing is expected to occur in the first semester of 2023 and is subject to customary closing conditions, including regulatory approvals.
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