Michelin & Faurecia join forces to develop H2 fuel cell
Michelin & Faurecia signed a Memorandum of Understanding to form a joint venture. The combination of all of Michelin’s fuel cell activities, including those of its subsidiary Symbio, with those of Faurecia will push the development of H2 fuel cells to the next level.
The joint venture of both French companies will be called Symbio, a Faurecia Micheline Hydrogen Company. Each company will own half of the shares, bundling their powers equally to become a major player in the fuel cell market.
Symbio will take charge of the entire H2 story, taking care of the development, production and marketing of fuel cell systems for all kind of applications, with special focus on commercial vehicles.
Both companies together aim to become a world leader in hydrogen fuel cell systems, and create a strong French and even European hydrogen industrial sector.
Michelin in general, and its subsidiary Symbio in particular, which was only dedicated to fuel cell systems, will contribute to the research, development and production capacity, while Faurecia will contribute its fuel cell expertise. Faurecia partnered before with CEA, and has industrial know-how and strategic relationships with OEMs. Furthermore, Faurecia seeks to continue its partnership with Stelia Aerospace Composites for the development of H2 tanks.
Furthermore, the partnership can count on the support of the French government, who involved both partners in an initiative to prepare the French industry for disruptive automotive technologies such as autonomous driving and electrification. And other partners of the industry are involved as well, such as Renault, PSA and Valeo.