Michelin welcomes Stellantis as a Symbio shareholder alongside Forvia
Clermont-Ferrand – July 28, 2023
Michelin welcomes Stellantis as a Symbio shareholder alongside Forvia
Michelin confirms the sale of part of its shareholding in Symbio to Stellantis, completed on July 27. It enables Stellantis to acquire a stake alongside Michelin and Forvia in the leading company for fuel cell mobility, with each shareholder holding 33.33%.
The announcement is another step towards the decarbonization of the mobility industry and illustrates Symbio’s technological excellence in hydrogen fuel cell innovations. The addition of Stellantis as a shareholder will boost Symbio’s development across Europe and in the U.S.
This transaction reflects the remarkable value development of Symbio since the JV started operating in 2020, it will contribute €150 million to Michelin group’s cash.
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This press release is not an offer to purchase or a solicitation to recommend the purchase of Michelin shares. To obtain more detailed information on Michelin, please consult the documents filed in France with the Autorité des Marchés Financiers, which are also available from the website.
This press release may contain a number of forward-looking statements. Although the Company believes that these statements are based on reasonable assumptions at the time of publishing this document, they are by nature subject to risks and contingencies liable to translate into a difference between actual data and the forecasts made or inferred by these statements.
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