Stellantis enters negotiations to acquire substantial stake in Symbio

Faurecia, a company of the Group Forvia, Michelin and Stellantis announced starting exclusive negotiations for Stellantis to acquire a substantial stake in Symbio, a zero-emission hydrogen mobility company, to become a player along with existing shareholders Faurecia and Michelin. In October, Symbio announced its HyMotive project to accelerate its industrialization and disruptive innovation, which will increase its total production capacity in France to 100,000 systems per year by 2028 while generating 1,000 additional jobs. This transaction enables Symbio to expand its development by capitalizing on Stellantis’ leadership in the European and American automotive markets. 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.