Stellantis will purchase a 33.3 percent ownership in Symbio, a pioneer in zero-emission hydrogen mobility, under a formal agreement signed by Stellantis, Michelin, and FORVIA group subsidiary Faurecia.
The 33.3 percent stakes that Faurecia and Michelin now hold will remain as stockholders.
“Acquiring an equal stake in Symbio will bolster our leadership position in hydrogen-powered vehicles by supporting our fuel cell van production in France, and it also serves as a perfect complement to our growing battery electric vehicle portfolio,” said Carlos Tavares, Stellantis CEO.
“As we push our Dare Forward 2030 plan forward and move to become carbon net zero by 2038, we are considering every technological tool at our fingertips to fight global warming.”
He added that Hydrogen fuel cells are necessary, and Symbio will become a significant player in the battle to protect future generations.
Symbio plans to produce 50,000 fuel cells per year by 2025, leveraging its Saint-Fons state-of-the-art gigafactory, which will start production in the second half of 2023.
