Stellantis now an equal Symbio partner

The sale of part of Michelin’s shareholding in the Symbio hydrogen mobility joint venture to Stellantis was completed on 27 July 2023, making Michelin, Forvia and Stellantis equal 33.33 per cent shareholders in the business. The transaction contributes 150 million euros to Michelin group’s cash.

“The announcement is another step towards the decarbonisation of the mobility industry and illustrates Symbio’s technological excellence in hydrogen fuel cell innovations,” shares Michelin in a statement. “The addition of Stellantis as a shareholder will boost Symbio’s development across Europe and in the US.”

Hydrogen taxis hit the road

The path to this three-way partnership began when Michelin acquired a minority shareholding in fuel cell system specialist Symbio FCell in 2014. It became main shareholder two years later, and in 2019 signed a Memorandum of Understanding with automotive parts manufacturer Faurecia (known as Forvia following its acquisition of a controlling stake in Hella in January 2022) that would bring together both firms’ fuel cell-related activities, including Symbio.

On 21 July 2023, Symbio announced that it, together with hydrogen mobility firm Hype, is deploying the world’s first hydrogen taxi fleet. These vehicles began appearing in the e Île-de-France region surrounding Paris in June, and the plan is to have up to 1,000 of these ‘Crit’Air 0’ taxis operating in and around Paris by the end of 2024.