Faurecia, Michelin create new center of gravity in hydrogen mobility
In the planned joint venture, Faurecia and Michelin intend not only to give an economic perspective to their conviction of the importance of hydrogen technology for zero-emission mobility, but also “to create a strong French and European hydrogen industry, as the two companies explained in a press release. Michelin will contribute all its fuel cell activities, including its subsidiary Symbio, to the joint venture. The new company will develop, produce and market fuel cell systems for a wide range of vehicles from cars to trucks.
For electric vehicles, fuel cell technology complements battery technology – especially in applications that require very intensive use and greater autonomy. In addition, fuel cell technology was recently selected by the European Union as one of six projects in the Important Projects of Common Interest.
Faurecia will contribute its expertise in fuel cell technology, developed through a strategic partnership with CEA, as well as strong industrial know-how and strategic relationships with automotive manufacturers. Faurecia intends to continue its development of high pressure hydrogen tanks in collaboration with Stelia Aerospace Composites, from which the joint venture is also expected to benefit. Likewise, it will benefit from the collaboration between Michelin and the global energy and services group ENGIE.
Florent Menegaux, General Managing Partner and future President of the Michelin Group, explains: “This innovative partnership will facilitate the emergence and development of hydrogen mobility: it paves the way for a new form of sustainable mobility. The aim is to develop a complete mobility offer for hydrogen vehicles from the fuel cell to the maintenance service”.
Patrick Koller, Chief Executive Officer of Faurecia, said: “Our shared vision and the complementarity of our technological know-how will accelerate the market introduction of efficient fuel cell systems adapted to different applications. Our common goal is to create a competence center for hydrogen mobility in France through the gradual integration of our activities”.
The project is still subject to the approval of the relevant antitrust authorities.
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