Stellantis to Buy Stake in Hydrogen Mobility Company Symbio
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Stellantis to Buy Stake in Hydrogen Mobility Company Symbio

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Antonio Gozain By Antonio Gozain | Senior Journalist and Industry Analyst - Tue, 12/27/2022 - 11:13

Stellantis has entered talks with Group FORVIA’s Faurecia and Michelin to buy a “substantial” stake in their Symbio joint venture, a fuel cell system manufacturer for hydrogen mobility, the three companies announced.

“Symbio’s technical roadmap perfectly matches with Stellantis’ hydrogen roll-out plans in the EU and in the US. This move will foster the speed of development to bring low emission products to our customers, beyond traditional EVs,” said Carlos Tavares, CEO, Stellantis.

Fuel cell electric vehicles (FCEVs), powered by hydrogen, have been available in the market for several years. These vehicles use stored hydrogen to produce electricity. Similar to ICE engine vehicles, they can fuel in less than 5 minutes and have a driving range over 480km, as reported by MBN. Moreover, these vehicles produce no tailpipe emissions, as they only emit water vapor and warm air as residue.

While OEMs such as Hyundai, Toyota and Honda currently offer light, passenger FCEVs, Stellantis became a pioneer in hydrogen mobility having launched mid-size vans in late 2021. The world’s third largest automaker’s ambitious strategy includes expanding its hydrogen offering to large vans as early as 2024 in the EU and 2025 in the US, while further exploring opportunities for heavy-duty trucks.

The current landscape for FCEVs remains challenging, with refueling stations and efficiency as the main challenges to tackle. By the end of 2021, the total number of stations was just 685 worldwide. Furthermore, several experts and articles claim that hydrogen is considerably less inefficient than BEVs. However, OEMs and key supply chain players still believe in hydrogen’s potential to play a big role in the decarbonization of mobility.

“Stellantis confirms the robustness of Michelin and Faurecia’s approach to creating a global leader in zero-emission mobility. The new setup will accelerate and globalize Symbio’s growth to the benefit of its customers,” said Patrick Koller, CEO, Faurecia.

In October 2022, Symbio announced its HyMotive initiative to accelerate innovation. Through the project, the company will increase its total production capacity in France to 100,000 systems per year. The arrival of Stellantis will enable Symbio to expand its development by capitalizing on the OEM’s leadership in the EU and US automotive markets, said the three companies. The closing of the transaction is expected to occur in 1H23 and is subject to customary closing conditions, including regulatory approvals.

Stellantis has a growing footprint in Mexico, with its corporate offices and engineering center located in Mexico City and a product offering that includes Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Peugeot and Ram brands. In addition, the automaker has seven plants across the country, where it produces Jeep Compass, Ram Heavy Duty, Ram ProMaster and several engines for other vehicles.

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