Stellantis has confirmed it has bought a 33.3% share in hydrogen mobility company Symbio.
Stellantis (a Forvia company) and Michelin are equal shareholders.
Stellantis announced its plans to acquire the stake earlier this May.
Stellantis said the addition of Stellantis as a shareholder will boost Symbio’s development across Europe and in the US.
When the stake acquisition was first announced, CEO Carlos Tavares said: “Acquiring an equal stake in Symbio will bolster our leadership position in hydrogen-powered vehicles by supporting our fuel cell van production in France, and it also serves as a perfect complement to our growing battery electric vehicle portfolio.”
The stake serves as a “perfect complement” to Stellantis’ growing battery electric vehicle portfolio, it said.
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Symbio plans to produce 50,000 fuel cells per year by 2025, leveraging its Saint-Fons 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.