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Stellantis backs hydrogen with Symbio

Logo of Symbio, a company specialising in hydrogen, in which Stellantis has an equal shareholding with Michelin and Faurecia.

With the Dera Forward 2030 plan, the Stellantis Group has embarked on a major energy transformation, with the aim of offering only electric vehicles in Europe by 2030. And while the group is largely committed to battery electric vehicles, it is not forgetting other solutions such as hydrogen by investing in the capital of Symbio.

Faurecia, a FORVIA Group company, Michelin and Stellantis today announce the signature of a binding agreement allowing Stellantis to acquire a 33.3% stake in the capital of Symbio, a leader in zero-emission hydrogen mobility. Faurecia and Michelin will remain shareholders with 33.3% each.

This announcement represents a major step forward in the decarbonisation of mobility and demonstrates Symbio's technological expertise in hydrogen fuel cell innovation. The participation of Stellantis in Symbio's capital will enable Symbio to strengthen its presence in Europe and the United States.

Carlos Tavares, CEO of Stellantis: "This equal stake in Symbio will strengthen our leading position in hydrogen vehicles and support our production of fuel cell utilities in France. This offer will perfectly complement our growing portfolio of electric models. As we fully implement our Dare Forward 2030 plan and move towards carbon neutrality by 2038, we are considering all technological solutions to fight global warming. Hydrogen fuel cells are essential and Symbio will be a key player in this fight to protect future generations. "

Symbio plans to produce 50,000 fuel cells per year by 2025, thanks in particular to its latest-generation Gigafactory in Saint-Fons, which is scheduled to come on stream in the second half of 2023. In 2022, Symbio announced the launch of its HyMotive project to accelerate industrialisation and the development of breakthrough innovations, a project that will enable the company to reach a total annual production capacity of 100,000 systems in France by 2028 and create 1,000 jobs in the country.

Patrick Koller, CEO of Faurecia, said: "We are delighted with this transaction, which will strengthen Symbio's current capabilities and give additional impetus to our joint venture. Symbio is now fully equipped to develop and strengthen its leadership outside Europe at a time when the automotive sector is accelerating its zero emission strategies. This mutually beneficial agreement allows FORVIA to confirm its status as a world leader in clean mobility. "

Florent Menegaux, President of Michelin, concluded: "The participation of Stellantis in the capital of Symbio is an enormous boost to the development of our joint subsidiary. This agreement also demonstrates the importance of hydrogen fuel cells for the successful electrification of the mobility sector, in particular for professional vehicles. As a partner of choice, Stellantis will now play a key role alongside us. Finally, this operation confirms Michelin's long-standing conviction that hydrogen fuel cells are one of the essential solutions for decarbonisation. "

Powered by batteries, fuel cells and even synthetic fuel, Stellantis is significantly expanding its technologies to offer zero-emission vehicles and achieve carbon neutrality by 2038. This participation in Symbio, in equal shares with Michelin and Faurecia, will allow the Group to have the best technologies to continue its leadership, particularly in the utility sector.

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