Categories: Environment

Stellantis is increasingly interested in hydrogen

Stellantis has announced that it is taking a 33% stake in Symbio, a joint venture specializing in hydrogen fuel cells owned by equipment manufacturers Michelin and Faurecia.

The Stellantis group has announced that it will take a 33% stake in Symbioa joint venture specializing in hydrogen fuel cells owned by equipment manufacturers Michelin and Faurecia, who will also each retain a third of the company.

The three companies have signed an agreement that will allow Stellantis to strengthen its presence in Europe and the United States. The financial details of the operation were not disclosed by Stellantis, but Forvia, the company grouping Faurecia and the German Hella, announced that it would receive a total amount of 150 million euros following this operation.

Carbon neutrality objective in 2038 for Stellantis

“This equal stake in Symbio will strengthen our leading position in the field of hydrogen vehicles and will support our production of fuel cell utilities in France. This offering will perfectly complement our growing portfolio of electric models.”said Carlos Tavares, the boss of Stellantis.

“In full deployment of our Dare Forward 2030 plan and on the way to achieving carbon neutrality by 2038, we are considering all the technological solutions at our disposal to fight against global warming. Hydrogen fuel cells are essential and Symbio will become an important player in this fight to protect future generations. »

Read also :
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• What future for Opel within the Stellantis group?
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Hydrogen for Stellantis utilities?

Symbio plans to produce 50,000 hydrogen fuel cells per year by 2025in particular in a factory which will be opened in Saint-Fons (Rhône) in the second half of 2023. The joint venture also aims “a total annual production capacity of 100,000 systems in France by 2028”which will cause “the creation of 1,000 jobs”.

Florent Menegaux, President of Michelin, underlined the importance of hydrogen fuel cells in the electrification of the mobility sector, especially for professional vehicles. Closing of the transaction is expected in the third quarter of 2023, subject to customary regulatory approvals, according to Stellantis, which had announced negotiations for this entry in the capital at the end of December 2022.

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