Faurecia, Michelin and Stellantis announced today the signing of a binding agreement for Stellantis (NYSE: MTA Euronext Paris: STLA) to buy a 33.3% stake in Symbio*, a company centered around hydrogen mobility. Faurecia and Michelin will also remain shareholders with 33.3% holding each. (AutoInformed on: Stellantis to Buy a Large Part of Faurecia Michelin Hydrogen)
“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.
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Symbio plans to produce 50,000 fuel cells per year by 2025, using its Saint-Fons ‘gigafactory,’ which will start production in the second half of 2023. In 2022, Symbio announced the implementation of its HyMotive project aimed at accelerating its industrialization and the development of “disruptive innovations,” a project that aspires to it reaching a total annual production capacity in France of 100,000 systems by 2028 with the creation of 1000 jobs in France.
Stellantis has been slowly easing into hydrogen mobility, having launched hydrogen powered mid-size vans in late 2021. Stellantis is implementing an aggressive carbon-free strategy as part of the so-called “Dare Forward 2030” strategic plan, which includes expanding its hydrogen offerings to large vans as early as 2024 in Europe and 2025 in the US while further exploring opportunities for heavy-duty trucks. (AutoInformed.com: Dare Forward 2030 – Stellantis Survival Plan Unveiled)
“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. Hydrogen fuel cells are necessary, and Symbio will become a significant player in the battle to protect future generations,” Tavares said.
*About Symbio
*Symbio is a Faurecia & Michelin joint venture. Symbio claims to be a leading innovative partner for mobility companies with its hydrogen fuel cell systems. Symbia sells zero-emission mobility – on-road or off-road, with trucks, vans, buses or passenger vehicles, its wide range of compact StackPack fuel cell systems “meet all requirements for power, durability and range.”
Symbio is a Stellantis partner in the deployment of the world’s first hydrogen-powered light commercial vehicle program. Symbio has ~600 employees helping their customers accelerate the deployment of a clean mobility. Symbio’s H2Motive range covers all power and durability needs with single- and multi-stack systems engineered with the associated power management systems, electronic control units, cooling, air, and hydrogen loops that generate and control the electrical power.
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About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Stellantis Buys Share of Symbio for Fuel Cell Technology
Faurecia, Michelin and Stellantis announced today the signing of a binding agreement for Stellantis (NYSE: MTA Euronext Paris: STLA) to buy a 33.3% stake in Symbio*, a company centered around hydrogen mobility. Faurecia and Michelin will also remain shareholders with 33.3% holding each. (AutoInformed on: Stellantis to Buy a Large Part of Faurecia Michelin Hydrogen)
“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.
A black box solution? Click for more information.
Symbio plans to produce 50,000 fuel cells per year by 2025, using its Saint-Fons ‘gigafactory,’ which will start production in the second half of 2023. In 2022, Symbio announced the implementation of its HyMotive project aimed at accelerating its industrialization and the development of “disruptive innovations,” a project that aspires to it reaching a total annual production capacity in France of 100,000 systems by 2028 with the creation of 1000 jobs in France.
Stellantis has been slowly easing into hydrogen mobility, having launched hydrogen powered mid-size vans in late 2021. Stellantis is implementing an aggressive carbon-free strategy as part of the so-called “Dare Forward 2030” strategic plan, which includes expanding its hydrogen offerings to large vans as early as 2024 in Europe and 2025 in the US while further exploring opportunities for heavy-duty trucks. (AutoInformed.com: Dare Forward 2030 – Stellantis Survival Plan Unveiled)
“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. Hydrogen fuel cells are necessary, and Symbio will become a significant player in the battle to protect future generations,” Tavares said.
*About Symbio
*Symbio is a Faurecia & Michelin joint venture. Symbio claims to be a leading innovative partner for mobility companies with its hydrogen fuel cell systems. Symbia sells zero-emission mobility – on-road or off-road, with trucks, vans, buses or passenger vehicles, its wide range of compact StackPack fuel cell systems “meet all requirements for power, durability and range.”
Symbio is a Stellantis partner in the deployment of the world’s first hydrogen-powered light commercial vehicle program. Symbio has ~600 employees helping their customers accelerate the deployment of a clean mobility. Symbio’s H2Motive range covers all power and durability needs with single- and multi-stack systems engineered with the associated power management systems, electronic control units, cooling, air, and hydrogen loops that generate and control the electrical power.
AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.