Forvia, Michelin, and Stellantis have reached an agreement on the restructuring and refinancing of their hydrogen fuel cell joint venture, Symbio, according to a statement.
Symbio will retain 175 jobs as the organization adapts to a new, reduced scope following Stellantis's withdrawal as a customer for all its hydrogen-related activities, the joint venture's statement added.
(Translated by Anna Uras, edited by Francesca Piscioneri)
Stellantis N.V. is one of the world's leading car manufacturers. The activity is essentially organized around 4 sectors:
- sales of passenger cars and light commercial vehicles: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys brands;
- sale of luxury vehicles: Maserati and DS Automobiles brands;
- sale of automotive equipment: interior systems, car seats, car exteriors, emission control systems, etc.;
- other: financing services (purchase, rental, leasing, etc.), after-sales services, etc.
Net sales are distributed geographically as follows: the Netherlands (1%), North America (41.6%), France (10.4%), Brazil (8.7%), Italy (7.1%), Germany (5.3%), the United Kingdom (5.2%), Turkey (3.8%), Spain (2.7%), Belgium (1.3%) and other (12.9%).
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Investor
Investor
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Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite), and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of the rankings based on the following ratings: Capital Efficiency (Composite), Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
