April 13 (Reuters) - Stellantis' divestment from hydrogen fuel cell joint venture Symbio is expected to be finalised by May, with a cost to the company of 235 million euros ($275.6 million), French
Stellantis to Exit Symbio Joint Venture by May at €235 Million Cost
Stellantis' Withdrawal from Symbio: Timeline, Costs, and Implications
Overview of Stellantis' Divestment
April 13 (Reuters) - Stellantis' divestment from hydrogen fuel cell joint venture Symbio is expected to be finalised by May, with a cost to the company of 235 million euros ($275.6 million), French newspaper Les Echos reported on Monday.
End of Hydrogen Fuel Cell Programme
The carmaker announced the end of its hydrogen fuel cell technology programme in July 2025, saying it will no longer launch hydrogen-powered vehicles.
Impact on Symbio Joint Venture
This raised questions over the future of Symbio, its joint venture with Forvia and Michelin, as Stellantis accounted for 80% of Symbio's business volume.
Details of the Exit Process
Conciliation and Shareholding Changes
Les Echos said the exit is expected to be finalised by May, following a conciliation process with its co-shareholders which should result in a new shareholding structure at Symbio, with Michelin and Forvia each holding 50% of the capital.
Financial Terms of the Withdrawal
Stellantis will have to pay its partners an estimated 235 million euros in compensation for the early withdrawal, Les Echos said, without giving details of the source of that figure.
Breakdown of Compensation
Of that, 145 million euros will be written off, and 90 million euros to be paid in cash, it added.
Additional Information
Company Response and Currency Conversion
Stellantis declined to comment.
($1 = 0.8528 euros)
(Reporting by Mathias de Rozario; Editing by Jan Harvey)
