Automotive giant Stellantis N.V. confirmed it has completed its 33.3% purchase in Symbio, a leader in zero-emission hydrogen mobility. Faurecia, a company of the FORVIA group, and Michelin are equal shareholders.
Last year Stellantis announced its plans to take a stake in Symbio. In May 2023, the automotive company finalized a binding agreement with the remaining two shareholders.
Acquiring an equal stake in Symbio bolsters Stellantis’ leadership position in hydrogen-powered vehicles by supporting the fuel cell van production in France, and it also serves as a perfect complement to the company’s growing battery electric vehicle portfolio.
Symbio plans to produce 50,000 fuel cells per year by 2025, leveraging its Saint-Fons state-of-the-art 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 will enable the company to reach a total annual production capacity in France of 100,000 systems by 2028 with the creation of 1,000 jobs in France.
“The announcement is a significant step in the decarbonization of the mobility industry and illustrates Symbio’s technological excellence in hydrogen fuel cell innovations. The addition of Stellantis as a shareholder will boost Symbio’s development across Europe and in the U.S.,” said Symbio in a statement.
