VENISSIEUX, France—It may not be right now, but someday. Someday hydrogen technology could emerge as the preferred energy source for the mobility industry.
And that is why there is Symbio.
It also is why the JV has a key third partner in Stellantis.
The joint venture, founded in 2019 by Michelin and Faurecia S.E., brought together Michelin's decades of hydrogen technology expertise with Faurecia's fuel cell development know-how. Now, with Stellantis' sustainable mobility vision behind it, the trio of partners—each holding a 33.3 percent stake—said Symbio is set for growth.
"The entry of Stellantis into the capital of Symbio is a tremendous development driver for our joint subsidiary," Michelin CEO Florent Menegaux said in a May 16 statement. "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."
Moreover, he said, Stellantis' interest in Symbio is validation that when it comes to the adoption of hydrogen technology, "someday" may be closer than we think.
"This transaction," Menegaux said, "reinforces the conviction that Michelin has held for many years: Hydrogen will be one of the unavoidable solutions for decarbonization."
Ultimately, that conviction—one that each of the partners share—is driving Symbio toward greater growth.