Faurecia S.E. (ENXTPA:EO), a company of the Group FORVIA, Michelin and Stellantis N.V. (BIT:STLA) announced starting on December 23, 2022 exclusive negotiations for Stellantis to acquire a substantial stake in Symbio to become a significant player along with existing shareholders Faurecia and Michelin. “Symbio’s technical roadmap perfectly matches with Stellantis’ hydrogen roll-out plans in Europe and in the U.S.,” said Stellantis Chief Executive Officer Carlos Tavares. “This move will foster the speed of development to bring low emission products to our customers, beyond traditional electric vehicles.

We’re grateful to the teams at Faurecia, Michelin and Symbio for their commitment to innovation, excellence, and collaboration as we all work to achieve decarbonized mobility.” “By the intention of acquiring a stake in Symbio, 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,” declared Patrick Koller, Chief Executive Officer of Faurecia. Florent Menegaux, Chief Executive Officer of Michelin, said, “Michelin is convinced that hydrogen fuel cell technology will make an effective contribution to decarbonizing mobility and even beyond.

This is what led Michelin to pioneer in this technology for more than 20 years. The arrival of Stellantis in Symbio’s capital would reinforce this conviction and would catalyze the tremendous industrial momentum we have built with Faurecia.” The closing of the transaction is expected to occur in the first semester of 2023 and is subject to customary closing conditions, including regulatory approvals.