Stellantis: set to take stake in Symbio
(CercleFinance.com) - Faurecia, Michelin and Stellantis have announced the signing of a binding agreement enabling Stellantis to acquire a 33.
3% stake in Symbio, a specialist in zero-emission hydrogen mobility, of which Faurecia and Michelin will each retain 33.3%.
Subject to customary regulatory approvals, the transaction is expected to close in Q3 2023. Stellantis' entry into Symbio's capital will enable the company to strengthen its presence in Europe and the US.
Symbio plans to produce 50,000 fuel cells per year by 2025, including through its state-of-the-art gigafactory in Saint-Fons, which is scheduled to start up in the second half of 2023.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
3% stake in Symbio, a specialist in zero-emission hydrogen mobility, of which Faurecia and Michelin will each retain 33.3%.
Subject to customary regulatory approvals, the transaction is expected to close in Q3 2023. Stellantis' entry into Symbio's capital will enable the company to strengthen its presence in Europe and the US.
Symbio plans to produce 50,000 fuel cells per year by 2025, including through its state-of-the-art gigafactory in Saint-Fons, which is scheduled to start up in the second half of 2023.
Copyright (c) 2023 CercleFinance.com. All rights reserved.