Michelin and Faurecia drive fuel cell technology
Together, the two companies want to develop, produce, and market fuel-cell drive systems for cars, trucks, and utility vehicles. The goal is to capture 25% of the world market share by 2030.
French tire manufacturer Michelin and French automotive supplier Faurecia have created the joint venture Symbio, with the aim of offering a complete range of hydrogen fuel-cell systems covering a multitude of types of mobility use within a few years. Michelin’s contribution to the joint venture is the wealth of experience and expertise of its subsidiary of the same name, Symbio, a supplier of hydrogen fuel-cell systems and a range of accompanying services. Faurecia will contribute its technological hydrogen mobility expertise and the results of R&D work carried out in partnership with the French Atomic Energy Commission ( CEA ).
The new company will operate in three locations in the US, Europe, and Asia. Michelin and Faurecia plan to invest €140 million in the project. Symbio aims to capture 25% of the fuel cell market share and achieve a turnover of €1.5 billion by 2030. The two founding companies anticipate that by 2030, there will be around two million hydrogen-powered vehicles on the roads, 350,000 of which trucks.
