{"id":41995,"date":"2023-07-29T12:00:23","date_gmt":"2023-07-29T16:00:23","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/stellantis-buys-33-3-of-symbio-joins-forvia-and-michelin-as-equal-shareholder\/"},"modified":"2023-07-29T12:00:25","modified_gmt":"2023-07-29T16:00:25","slug":"stellantis-buys-33-3-of-symbio-joins-forvia-and-michelin-as-equal-shareholder","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=41995","title":{"rendered":"Stellantis buys 33.3% of Symbio, joins Forvia and Michelin as equal shareholder"},"content":{"rendered":"
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\u00a9 Reuters. Stellantis (STLA) buys 33.3% of Symbio, joins Forvia and Michelin as equal shareholder<\/span>
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Stellantis (STLA) confirmed Friday the 33.3% purchase of zero-emission hydrogen mobility company, Symbio. The automaker joins Forvia and Michelin as equal shareholders in the company.<\/p>\n

The announcement marks a significant milestone in advancing the decarbonization of the mobility industry, showcasing Symbio’s exceptional technological prowess in hydrogen fuel cell innovations. With Stellantis becoming a shareholder, Symbio’s expansion throughout Europe and the U.S. will receive a substantial boost.<\/p>\n

By acquiring an equal stake in Symbio, Stellantis further solidifies its leadership in hydrogen-powered vehicles, providing crucial support for fuel cell van production in France. This move also seamlessly complements the Company’s expanding battery electric vehicle portfolio.<\/p>\n

Stellantis CEO, Carlos Tavares said back in May, \u201cAcquiring an equal stake in Symbio will bolster our leadership position in hydrogen-powered vehicles by supporting our fuel cell van production in France.”<\/p>\n

The three groups entered exclusive talks about the deal in December last year.<\/p>\n

Stellantis, the third-largest carmaker in the world based on sales, introduced hydrogen-powered mid-size vans last year. Looking ahead, the company aims to broaden its hydrogen offerings to include large vans in Europe by 2024 and in the U.S. by 2025.<\/p>\n

Shares of STLA are up 3.61% in afternoon trading on Friday.<\/p>\n

By Michael Elkins | Michael.Elkins@streetinsider.com<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Stellantis (STLA) buys 33.3% of Symbio, joins Forvia and Michelin as equal shareholder Stellantis (STLA) confirmed Friday the 33.3% purchase of zero-emission hydrogen mobility company, Symbio. The automaker joins Forvia and Michelin as equal shareholders in the company. The announcement marks a significant milestone in advancing the decarbonization of the mobility industry, showcasing […]<\/p>\n","protected":false},"author":1,"featured_media":5340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-41995","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nStellantis buys 33.3% of Symbio, joins Forvia and Michelin as equal shareholder | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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