Michelin confirms the sale of part of its shareholding in Symbio to Stellantis, completed on July 27.
It enables Stellantis to acquire a stake alongside Michelin and Forvia in the leading company for fuel cell mobility, with each shareholder holding 33.33%.
The announcement is another step towards the decarbonization of the mobility industry and illustrates Symbio’s technological excellence in hydrogen fuel cell innovations. The addition of Stellantis as a shareholder will boost Symbio’s development across Europe and in the U.S.
This transaction reflects the remarkable value development of Symbio since the JV started operating in 2020, it will contribute €150 million to Michelin group’s cash.
