Stellantis to Halt Investments in Hydrogen Joint Venture

Stellantis NV has decided to withdraw its support from the hydrogen vehicle venture, Symbio, which it co-owns with Michelin and Forvia SE. The automaker plans to cease investments in Symbio by 2026, a move that will significantly impact the company, given Stellantis accounts for around 80% of Symbio's business volume. This decision comes at a time when hydrogen mobility companies are already grappling with challenges related to high costs, limited infrastructure, and lack of standardization, which have hindered their growth. With a new CEO, Antonio Filosa, at the helm, Stellantis is focused on revitalizing its product strategy and making vehicles more affordable, particularly in the competitive European and U.S. markets.

Symbio employs about 650 people primarily in France and provides hydrogen solutions mainly for commercial vehicles like vans and buses. The unexpected decision by Stellantis has raised concerns about the future of Symbio and its workforce, as both Michelin and Forvia noted the immediate operational and financial consequences.

In the context of transportation, this situation underscores the ongoing struggle of hydrogen technology to gain traction compared to battery-electric vehicles. Many industry experts suggest that without significant advancements in infrastructure and cost efficiencies, hydrogen may continue to lag in adoption. The move by Stellantis hints at a strategic pivot towards electric drivetrains, which have gained favor due to their established infrastructure and decreasing costs, making them the primary alternative to internal combustion engines in the near term.