In a recent development, Stellantis, the renowned car company, has become the third shareholder in the fuel cell joint venture, Symbio. The company now holds a 33.3% share in the partnership, joining forces with existing shareholders Faurecia and Michelin.
Stellantis had previously expressed its interest in acquiring a stake in Symbio, and in May 2023, the car company solidified its commitment by signing a binding agreement with the other two shareholders. The financial details of the share acquisition have not been disclosed.
Founded in November 2019 by Faurecia and Michelin, Symbio has established itself as a fuel cell manufacturer with a strong focus on the European market. Its operations have expanded into the United States in August 2022. Notably, the Stellantis Group has been a close partner of the joint venture, relying on Symbio’s fuel cell stacks for the production of fuel cell versions of the Opel Vivaro-e and its sister models.
As part of its strategic plan, Dare Forward 2030, Stellantis aims to expand its hydrogen offering to larger commercial vehicles. Starting in 2024 in Europe and 2025 in the USA, the company envisions significant growth in the hydrogen-powered vehicle sector.
Stellantis’ involvement as a new shareholder is expected to bolster Symbio’s development and market presence both in Europe and the US. With the planned production of 50,000 fuel cells per year at its factory in Saint-Fons, France, Symbio aims to begin production in the second half of 2023.
In addition to this partnership, Symbio has been selected to supply fuel cell systems for up to 1,000 Stellantis hydrogen taxis for the renowned Hype fleet in Paris. This collaboration marks a significant opportunity for Symbio to showcase the performance of its technology in real-life conditions, with the invaluable support of an experienced partner in the adoption of hydrogen electric vehicles.
Symbio CEO, Philippe Rosier, expressed enthusiasm about the project, highlighting the chance to demonstrate the capabilities of their technology in collaboration with a top-tier industrial player. Hype CEO, Mathieu Gardies, echoed this sentiment, emphasizing the solidness of their integrated hydrogen mobility offering and their ability to engage with leading industrial actors in the field.
With Stellantis’ new involvement, Symbio’s ambitious plans for growth and its contributions to advancing hydrogen mobility solutions are expected to gain further momentum. As the fuel cell market continues to expand, this joint venture is set to play a significant role in shaping the future of sustainable transportation.
