Gasgoo News After foreign media reported that Stellantis would withdraw from the hydrogen vehicle joint venture Symbio, Stellantis announced its decision to terminate its hydrogen fuel cell technology development project on July 16.
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Stellantis
Stellantis said in a press release that it does not believe that hydrogen-powered light commercial vehicles will have a high market penetration rate until 2030 due to the lack of hydrogen refueling infrastructure, the large capital investment required and the need for stronger purchase incentives.
For this year, Stellantis has decided that it will no longer launch a new generation of hydrogen-powered commercial models, the Pro One, and the company’s plans to mass-produce current hydrogen-powered mid-size vans and large vans in Hordain, France and Gliwice, Poland this summer, respectively, have been shelved.
Jean-Philippe Imparato, Chief Operating Officer of Stellantis Group Europe, said: “The Group is fully committed to Europe’s stringent CO2 emission regulations, and we have decided to discontinue the hydrogen fuel cell technology development project. The hydrogen fuel market is still a niche market and is not economically sustainable in the medium term. To remain competitive, we must make clear and responsible decisions and meet consumer needs with electric and hybrid passenger and light commercial vehicle products. ”
Stellantis noted that the decision to terminate hydrogen fuel cell technology development projects will not affect employees at its production sites, and R&D activities and teams related to hydrogen technology will be reassigned to other projects.
As for Symbio, a joint venture with French tire manufacturer Michelin and global automotive technology supplier Freia, Stellantis said it has entered into discussions with other shareholders to assess the market impact and safeguard Symbio’s best interests in accordance with their respective obligations.
Prior to this, Michelin and Foria confirmed to Bloomberg that Stellantis plans to stop investing in the business of hydrogen fuel cell company Symbio by 2026. Michelin said Stellantis’ decision was unexpected and shocking, and the company’s primary concern was the impact of the decision on Symbio’s employees in France and overseas. Freya said that the move “will have a significant and direct impact on Symbio’s future operations and financial condition.”