Tire maker Michelin and automotive technology developer Faurecia have signed an MoU to create a joint venture to combine fuel cell-related activities. The move will see Michelin’s hydrogen expertise (including its subsidiary Symbio) brought together with that of Faurecia to create Symbio – a Faurecia Michelin Hydrogen Company.
The two companies aim to create a world-leading organization (equally owned by both parties) to develop, produce and market hydrogen fuel cell systems for light vehicles, utility vehicles, trucks and other applications.
Michelin will contribute the activities of Symbio (a supplier of hydrogen fuel cell systems and a range of digital services) as well as R&D and production capabilities.
Faurecia will provide its fuel cell technological capabilities and expertise, as well as its strategic partnerships with car manufacturers. Faurecia will continue its development of high-pressure hydrogen tanks in partnership with Stelia Aerospace Composites, which will also contribute to the joint venture.
“This innovative partnership will facilitate the emergence and development of hydrogen mobility: it opens the way to a new form of sustainable mobility,” said Florent Menegaux, general managing partner and future president of the Michelin Group.
“I welcome the alliance between Michelin and Faurecia, incorporating our strategic asset Symbio. The ultimate aim is to develop a complete mobility offer for hydrogen vehicles, from fuel cells to maintenance services.”
“I am very pleased to have signed this strategic agreement with Michelin with a view to creating the world leader in hydrogen mobility,” added Patrick Koller, CEO of Faurecia.
“Our shared vision, as well as the complementarity of our technological know-how, will accelerate the market launch of efficient fuel cell systems adapted to different use cases.
“Our joint ambition is to create a center of excellence for hydrogen mobility in France through the gradual combination of our activities.”
