Michelin and Stellantis-owned Faurecia have announced exclusive talks for Stellantis to acquire a substantial stake in Symbio, a pioneer in zero-emission hydrogen vehicles, alongside existing shareholders Faurecia and Michelin.

Ambitious is the 2030 strategic plan, which includes expanding hydrogen supply to large vans in Europe until 2024 and in the US by 2025.

The company has announced that the HyMotive project’s purpose is to accelerate its disruptive innovation and industrialisation, increasing its production capacity in France to 100,000 systems each by 2028 with 1000 more job opportunities. For the expansion of its development by capitalising on Stellantis’ leadership in the European and American automotive markets.

In the First Semester, the closing transaction is expected to happen in 2023 and is subject to the usual closing conditions according to all regulators’ approval.