Finance
Michelin, Forvia and Stellantis agree on Symbio restructuring plan
Published by Global Banking & Finance Review®
Posted on December 3, 2025
1 min readLast updated: January 20, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 3, 2025
1 min readLast updated: January 20, 2026
Michelin, Forvia, and Stellantis have restructured Symbio, focusing on hydrogen fuel cells after Stellantis exited the tech. Symbio plans to cut jobs and boost production by 2030.
Dec 3 (Reuters) - Michelin, Forvia and Stellantis reached an agreement over the restructuring and refinancing of hydrogen fuel cell firm Symbio, the jointly owned company said on Wednesday.
The future of the joint venture has been uncertain since carmaker Stellantis, which accounted for 80% of Symbio's business volume, discontinued its hydrogen fuel cell technology programme in July.
"The challenge for Symbio is to adapt its strategy and organisation to its new scope of activity," said the company, in which the three shareholders own 33% each.
In response to the smaller scope of operations, Symbio said it would reduce its headcount to 175 people. That compares to 650 employees before Stellantis' announcement, its website showed.
"The goal is to reach a production capacity of 10,000 systems per year by 2028-2030 at the SymphonHy site in Saint-Fons," it said. The French site represents one of Symbio's key strengths as of today, it added.
(Reporting by Mathias de Rozario in Gdansk, editing by Milla Nissi-Prussak)
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project or business activity, sharing profits and losses.
Hydrogen fuel cells are devices that convert chemical energy from hydrogen into electricity through a chemical reaction, producing water as the only byproduct.
Restructuring refers to the process of reorganizing a company's structure, operations, or finances to improve efficiency, reduce costs, or adapt to market changes.
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