“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. As we push our Dare Forward 2030 plan forward and move to become carbon net zero by 2038, we are considering every technological tool at our fingertips to fight global warming. Hydrogen fuel cells are necessary, and Symbio will become a significant player in the battle to protect future generations”. Carlos Tavares, Stellantis CEO
“We are delighted with this transaction which further increases Symbio’s capabilities and will give additional momentum to the joint venture. Symbio is now perfectly equipped to scale up and expand its leadership outside Europe, at a time when the automotive industry is accelerating towards zero emissions. This agreement benefits all parties and allows FORVIA to confirm its status as a global leader in clean mobility”. Patrick Koller, Chief Executive Officer of Faurecia
“The entry of Stellantis into the capital of Symbio is a tremendous development driver for our joint subsidiary. It is also a perfect demonstration that fuel cell technology is essential for the automotive industry to succeed in the electrification of mobility, particularly for professional use. Stellantis is already a partner of choice and will be a key player with us in the future. Finally, this transaction reinforces the conviction that Michelin has held for many years: hydrogen will be one of the unavoidable solutions for decarbonization”. Florent Menegaux, CEO of Michelin
The transaction is subject to customary regulatory approvals. Closing is expected in the third quarter of 2023.
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