Faurecia, a company of the FORVIA group, Michelin and Stellantis announced the signing of a binding agreement for Stellantis to acquire 33.3% stake in Symbio, a company in zero-emission hydrogen mobility. Faurecia and Michelin will remain shareholders with 33.3% holding each.

Symbio plans to produce 50,000 fuel cells per year by 2025, leveraging its Saint-Fons gigafactory, which will start production in the second half of 2023.

The transaction is subject to customary regulatory approvals. Closing is expected in the third quarter of 2023.