Stellantis to Buy a Large Part of Faurecia Michelin Hydrogen

Ken Zino of AutoInformed.com on Stellantis to Buy a Large Part of Faurecia Michelin Hydrogen

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Today, Faurecia,* Michelin and Stellantis (NYSE: MTA Euronext Paris: STLA) announced “exclusive” negotiations for Stellantis to acquire a substantial stake in Symbio,** a supplier of zero-emission hydrogen systems, joining existing shareholders Faurecia and Michelin.

Stellantis is tiptoeing into hydrogen mobility having launched mid-size vans in late 2021. Stellantis is pursuing an aggressive ambition 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)

Toyota Motor appears to AutoInformed to be the clear leader in these areas, but this is an endurance race not a sprint:

“Symbio’s technical roadmap perfectly matches with Stellantis’ hydrogen roll-out plans in Europe and in the US,” 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 decarbonized mobility.”

Patrick Koller, CEO of Faurecia said, “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 globalize Symbio’s growth to the benefit of its customers.”

In October 2022, Symbio announced its HyMotive project to accelerate its industrialization and (marketing babble alert>disruptive innovation,” which will increase its total production capacity in France to 100,000 hydrogen systems per year by 2028 while generating 1000 additional jobs. This transaction enables Symbio to expand its development through Stellantis’ sales position in the European and American automotive markets.

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.

*Faurecia, is a company of the Group FORVIA

**Symbio, a Faurecia & Michelin joint venture, claims to be a leading innovative partner for mobility companies with its hydrogen fuel cell systems. Symbia says it has, in zero-emission mobility. Whether on-road or off-road, from trucks, vans, buses to logistics equipment 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 committed to building a positive future, helping their customers accelerate the deployment of a clean mobility that respects our environment, our air and our health, without compromising on performance. 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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