Faurecia, a company of the Group FORVIA, Michelin, and Stellantis, has begun exclusive negotiations for Stellantis to buy a significant stake in Symbio, a leader in zero-emission hydrogen mobility.
Stellantis is a pioneer and market leader in hydrogen mobility, with mid-size vans set to debut in late 2021. As part of the Dare Forward 2030 strategy plan, the company plans to expand its hydrogen offering to large vans as early as 2024 in Europe and 2025 in the United States, while also examining prospects for heavy-duty trucks.
Symbio unveiled its HyMotive project in October 2022 to accelerate its industrialisation and disruptive innovation, with the goal of increasing its overall production capacity in France to 100,000 systems per year by 2028 while creating 1,000 new employment. Symbio will be able to increase its development because to Stellantis’ position in the European and American automotive sectors.
The acquisition is expected to close in the first semester of 2023, subject to typical closing circumstances such as regulatory approvals.