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#6 Michelin and Faurecia formalize their joint venture, SYMBIO, in the race to become a world leader in the hydrogen mobility market

In France, Michelin—a leader in tire and sustainable mobility— alongside the leading automotive technology company Faurecia formalized the creation of their joint venture “SYMBIO, A Faurecia Michelin Hydrogen Company.” The companies hope the partnership will help them become a world leader in the hydrogen mobility market through the development, production, and marketing of hydrogen fuel cell systems for multiple mobility sectors. Faurecia is contributing technological hydrogen mobility expertise as well as results of R&D work carried out with the French Atomic Energy Commission. Michelin will contribute the expertise gathered from its subsidiary Symbio, an equipment manufacturer supplying hydrogen fuel cell kits alongside a range of services, design, and production activities. An initial investment of €140 million is the first step in achieving SYMBIO’s goal of capturing 25% of the market share by 2030.
More on the story, here.