Stellantis to buy one-third stake in fuel cell system maker Symbio

Stellantis will acquire an equal one-third stake in Symbio, the hydrogen fuel cell joint venture between Michelin and Faurecia, the three companies said. Faurecia said it would receive 150 million euros ($163 million) from Stellantis in the deal, an amount that would be part of a planned 1 billion euro asset disbursement program. PSA Group was formerly the majority shareholder in Faurecia before liquidating its stake when it merged with Fiat Chrysler to form Stellantis in 2021. Michelin did not say if it was also receiving money from Stellantis. The three groups entered exclusive talks about the potential deal in December last year. #hydrogen #fuelcells #energystoragesystem #automotiverecruitment   Source:https://europe.autonews.com/automakers/stellantis-pay-163-million-join-faurecia-michelin-hydrogen-jv-symbio