Michelin’s contribution to the JV will be the activities of Symbio FCell, a hydrogen fuel cell company which Michelin acquired February this year.
The French tire & rubber company will also collaborate in research & development and production activities.
The cooperation between Michelin and energy group Engie for the development of a hydrogen ecosystem, in particular in the field of hydrogen mobility, will also benefit the joint venture.
Faurecia will contribute the technological fuel cell expertise it has developed through its partnership with the CEA (French alternative energies and atomic energy commission) as well as its strategic relationships with car manufacturers.
Faurecia signed a five-year agreement with the CEA in October 2017, to work together on a research and development program that will focus on fuel cell stack technologies.
Faurecia will also continue its development of high-pressure hydrogen tanks in partnership with Stelia Aerospace Composites, which will also benefit the joint venture.
“I welcome the alliance between Michelin and Faurecia, incorporating our strategic asset Symbio," said Florent Menegaux, general managing partner and future president of the Michelin Group.
The JV, according to Menegaux. will seek to ultimately develop a complete mobility offer for hydrogen vehicles, from fuel cells to maintenance services.
The “joint ambition”, Faurecia CEO Patrick Koller added, is to create “a centre of excellence for hydrogen mobility in France” through the gradual combination of the two companies’ activities.