Michelin and Forvia will invest a billion in hydrogen in France

Michelin and Forvia will invest a billion in hydrogen in France

“Hydrogen is a solution that we have in Europe, especially in France,” said Florent Menegaux in Italy on Wednesday, October 5, during a meeting with some journalists. However, “we still have to divide the price of the fuel cell by ten,” admits the Michelin President. But hydrogen is the solution favored by the French manufacturer for the energy transition. Because battery-powered vehicles will quickly encounter a major pitfall: “We will find that there are not enough materials to meet the need for batteries,” assures the manager!

Hydrogen, Michelin therefore believes in it and proves it: Symbio, the 50-50 subsidiary of Michelin and Forvia (ex-Faurecia), announces this Thursday an investment of one billion euros in France over seven years, including public aid! hydrogen is gone. Symbio will accelerate with two factories by 2028 with a total production capacity of 100,000 fireplace inserts per year in France. 1,000 jobs are created. Its first industrial site in Saint-Fons near Lyon will start production at the end of 2023 and will reach 50,000 systems per year in 2026. The joint venture expects a further plant in Germany by 2030 with a turnover of 1.5 billion euros and a production capacity of 200,000 delivered systems.

Reference: www.challenges.fr

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