The maker of Jeep and Ram vehicles is negotiating to take a significant stake in Symbio, a company focused on hydrogen-powered vehicles.
Stellantis on Friday said it has begun negotiations with Symbio's joint venture partners, auto supplier Faurecia of the Forvia Group and the Michelin Group, a tire manufacturer. Hydrogen technology offers a zero-emission alternative to fully electric powertrain options with quick refuel times, though like EVs, needs a buildout of infrastructure. The deal is expected to close during the first part of 2023 and is subject to regulatory approvals.
"Symbio's technical roadmap perfectly matches with Stellantis' hydrogen roll-out plans in Europe and in the U.S.," Stellantis CEO Carlos Tavares said in statement. "This move will foster the speed of development to bring low emission products to our customers, beyond traditional electric vehicles."
