The Stellantis logo in one of its assembly factories in Toluca
(Reuters) -Stellantis announced on Wednesday put an end to its development program for fuel cell technology, citing the absence of medium -term prospects for the hydrogen market, the decision having surprised its Michelin and Forvia partners, which provide heavy consequences for their symbio co -poach.
“The series production of Stellantis Pro one Stellantis utilities on Hordain’s sites in France and Gliwice in Poland, is arrested,” said the automaker in a press release.
“The hydrogen market remains a niche segment, without perspectives of economic profitability in the medium term. We must make clear and responsible choices to guarantee our competitiveness and meet the expectations of our customers thanks to our electric and hybrid offer for both private vehicles and for light utilities”, explains Jean-Philippe Imparato, ‘Chief Operating Officer’ of Stellantis press release.
The manufacturer also stresses that the current state of the hydrogen segment represents financial challenges for all stakeholders.
The development of the segment of hydrogen vehicles is slowed down by a lack of infrastructure and by the enthusiasm of most manufacturers for electric vehicles, inspired by the successes of the American Tesla.
Hydrogen vehicles operate with a fuel cell, which makes it possible to make electricity on board thanks to on -board hydrogen and rejects only water.
Stellantis, however, stresses that he does not anticipate the adoption of light hydrogen utility vehicles before the end of the decade, due to the limited availability of infrastructure, the importance of required investments and the need for very high incentives for customers.
According to Stellantis, this decision will have no impact on the workforce of its production sites, because research & development activities linked to hydrogen will be redirected to other projects.
Doubts on Symbio
The group adds that it has started discussions with Symbio shareholders, the joint venture formed by Forvia, Michelin and Stellantis in the field of hydrogen systems for vehicles, in order to assess the impacts of the current situation, while its partners expressed their concern on the future of their common project on Tuesday.
Michelin told Reuters on Wednesday that he was informed by Stellantis last May of his decision not to invest in hydrogen, qualifying the unilateral approach.
“This unexpected, brutal and unilateral decision is all the more surprising since Stellantis had constantly positioned itself as a pioneer on this emerging market. In accordance with this ambition, Stellantis, the main customer of Symbio, became a coactionary alongside Michelin and Forvia in July 2023”, declares the French manufacturer of tires in a declaration sent to Reuters.
“This about-face will have very important operational and financial consequences for Symbio. Michelin’s first concern is the impact on Symbio employees, both in France and abroad,” adds Michelin.
Symbio inaugurated in December 2023 in Saint-Fons, near Lyon (Rhône), its first gigafactory of fuel cells, the largest integrated European site for the production of this system especially intended for utility vehicles using electricity produced from hydrogen.
Forvia for her part confirmed to Reuters having read Stellantis’ decision to stop her investments in hydrogen, while warning that she has serious and immediate operational and financial consequences for the future of Symbio, which, according to the automotive supplier, depends on Stellantis for almost 80% of her business volume.
The Forvia action cedes 3.5% around 10:45 a.m. GMT, while Michelin abandons 0.1% and Stellantis 3.4%, the automotive sector is also sealed Wednesday by the decrease in Renault action (-16%) after a reduction in its annual perspectives the day before.
(Written by Elena Smirnova and Diana Mandia, with Dominique Patton, edited by Augustin Turpin)
