Stellantis has entered into talks with the French suppliers Faurecia and Michelin to purchase a “substantial” stake of their Symbio three way partnership, a gas cell system maker for hydrogen mobility, the three corporations stated.
Stellantis launched hydrogen-powered midsize vans final yr from the Citroen, Peugeot and Opel manufacturers in a collaboration with Symbio. It goals to develop its hydrogen supply to giant vans in Europe in 2024 and within the U.S. in 2025, “while further exploring opportunities for heavy-duty trucks.”
Automakers and suppliers consider that hydrogen gas cell methods will take maintain first within the industrial car market as a result of there are few filling stations for personal vehicles. In distinction, a fleet operator may set up hydrogen stations at its depots, and the automobiles may very well be refueled on the finish of the day.
Stellantis CEO Carlos Tavares stated in a press release on Friday that Symbio’s technical roadmap “perfectly” matched with the automaker’s hydrogen rollout plans in Europe and within the U.S.
“This move will foster the speed of development to bring low-emission products to our customers, beyond traditional electric vehicles,” he stated within the assertion.
Stellantis entry “will accelerate and globalize Symbio’s growth,” Faurecia CEO Patrick Koller stated.
Earlier this yr Symbio introduced its HyMotive venture to speed up its industrialization, with a plan to extend complete manufacturing capability in France to 100,000 methods a yr by 2028 whereas producing 1,000 extra jobs.
The transaction, for which no monetary particulars have been offered, is predicted to be finalized within the first half of subsequent yr, the three corporations stated within the assertion.
Symbio was based in 2019. PSA Group, which merged with Fiat Chrysler to type Stellantis, had an oblique stake in Symbio by way of its controlling stake in Faurecia. That stake was liquidated earlier than the merger was finalized in January 2021.
Reuters contributed to this report
Source: europe.autonews.com