In the planned joint venture, Faurecia and Michelin intend not only to give an economic perspective to their conviction of the importance of hydrogen technology for zero-emission mobility, but also "to create a strong French and European hydrogen industry, as the two companies explained in a press release. Michelin will contribute all its fuel cell activities, including its subsidiary Symbio, to the joint venture. The new company will develop, produce and market fuel cell systems for a wide range of vehicles from cars to trucks.
For electric vehicles, fuel cell technology complements battery technology - especially in applications that require very intensive use and greater autonomy. In addition, fuel cell technology was recently selected by the European Union as one of six projects in the Important Projects of Common Interest.