The joint venture between Faurecia and Michelin will invest a total of €1 billion in France over 7 years as part of its HyMotive project, which is supported by France Relance under the Hy2Tech hydrogen IPCEI.
The funds allocated to the IPCEI will enable production to be stepped up, as the construction of a gigafactory will start in Saint-Fons, near Lyon. This factory, called SymphonHY, is located in the Chemical Valley and will start up in 2023. It will be possible to produce 50,000 batteries per year from 2026. This flagship will also house the group’s headquarters, the research centre, the Symbio H2 Academy, and a start-up incubator. A second site will be built in France within 6 years.
Additionally, 4 months after the initial agreement, Symbio announced the creation of Innoplate, their 50/50 joint venture with Schaeffler. The joint venture, which is located in Haguenau in Alsace, will begin production of bipolar plates for fuel cells in early 2024.
Symbio aims to scale up with products based on a new technology. The aim is to increase total production capacity to 100,000 systems per year in France by 2028.
“We are grateful for the trust placed in our HyMotive project by our shareholders, the European Commission and the French government,” says Philippe Rosier, Symbio’s CEO. The project will create 1,000 jobs and contribute to building a strong hydrogen ecosystem in Europe. The joint venture between Faurecia* and Michelin is reaffirming its ambition to be a leading global player in fuel cell technology, aiming for a €1.5 billion turnover and a production capacity of 200,000 systems by 2030.
*As for Faurecia, the company has been awarded 213 million in the Historhy Next project for its hydrogen tanks.
Article written by Laurent Meillaud, translated by Logan King and reviewed by Marina Leite.