Faurecia has teamed up with Michelin for a joint venture. As a result of the partnership between the two companies, all of Michelin’s activities related to fuel cells including those of its subsidiary Symbio will be combined with those of Faurecia. Both Michelin and Faurecia will have equal stakes in the new joint venture company called Symbio. Symbio will deal with the development, production and marketing of hydrogen fuel cell systems meant for light vehicles, utility vehicles, trucks, and other applications.
The release issued by the partners said that they were both convinced about the key role that hydrogen technology would play in the world of zero emissions mobility in the future. They plan to make Symbio a global leader in hydrogen fuel cell systems by combining the existing and complementary assets from both partners in the joint venture. Thus, Symbio will be able to offer its customers a unique range of hydrogen fuel cell systems for all use cases.
In the case of electric vehicles, fuel cell technology can complement battery technology, especially in a scenario where vehicles have greater autonomy and are heavily used. Fuel cell technology has also been recently selected by the European Union as one of Europe’s six Important Projects of Common Interest.
Michelin’s contribution to this joint venture would be through the activities of Symbio and as a supplier of hydrogen fuel cell systems which are associated with a range of digital services, in addition to research and development, and production activities. Faurecia will contribute to the partnership the expertise in fuel cell technology that it has developed through its strategic partnership with the CEA, its industrial know-how and the benefit of the relationships it has developed with car manufacturers. Faurecia will continue its collaboration with Stelia Aerospace Composites for the development of high-pressure hydrogen tanks
Michelin has also partnered with Engie, a global energy and services group, for the development of a hydrogen ecosystem, especially as it relates to hydrogen mobility, and this partnership is also expected to be of great benefit to the joint venture between Michelin and Faurecia.
Commenting on the joint venture, General Managing Partner and future President of the Michelin Group, Florent Menegaux, explained, “This innovative partnership will facilitate the emergence and development of hydrogen mobility; it opens the way to a new form of sustainable mobility.”
Manju Mathew, an MBA in marketing, completed publisher training courses from the Oxford Brookes University and New York University. She started with marketing and PR roles before moving on to her current position as a full time writer. Currently living in Dubai, her life as an expat has sharpened her observation skills and flair for writing. She enjoys writing about luxury cars like Ferrari, Lamborghini, etc even if she can only dream of owning them.
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