Symbio will invest EUR1bn in French fuel cell production by 2028
By Bradley Osborne - 28th October 2022
France – Symbio, a fuel cell joint venture between Faurecia and Michelin based in Fontaine, Isère, has released further details of its long-term strategy, including a EUR1bn investment in fuel cell system development and manufacturing in France and a production target of 200,000 units per year by 2030.
The joint-venture firm announced its investments in its French research and production bases will amount to EUR1bn by 2028. This money will kickstart the company’s production line for fuel cell stacks at Saint-Fons, where up to 50,000 units will be made per year. The company’s long-term ambition, however, is to ramp up production to 200,000 units across the world by the end of the decade. By then, Symbio aims to have a turnover of EUR1.5bn.
