Stellantis to acquire stake in Faurecia Michelin hydrogen company

Stellantis to acquire a substantial stake in Symbio, a leader in zero-emission hydrogen mobility

Stellantis to acquire stake in Faurecia Michelin hydrogen company

Stellantis has outlined plans to acquire a stake in Symbio, a Faurecia Michelin hydrogen company and leader in fuel cell technologies.

Stellantis 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.

Stellantis CEO Carlos Tavares said: “Symbio’s technical roadmap perfectly matches with Stellantis’ hydrogen roll-out plans in Europe and in the U.S.

“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 decarbonized mobility.”

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.

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.

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