French technological building blocks for hydrogen mobility, Michelin is already involved through Symbio, its subsidiary co-owned with Faurecia. The new measures will allow Symbio to become a hydrogen fuel cell system world leader with a target turnover of approximately 1.5 billion euros by 2030. Symbio’s future European industrial site will be located near Lyon and will create hundreds of jobs in the area.
With regard to large-scale regional hydrogen hub projects, Michelin intends to accelerate their development with industry stakeholders. The Group is a pioneer with Zero Emission Valley, the first European initiative to deploy hydrogen mobility on a regional scale (Auvergne-Rhône-Alpes). This project provides for the installation of twenty stations powered by green hydrogen and the deployment of 1,200 hydrogen vehicles for business use by 2023. For this project, Michelin become a shareholder of Hympulsion, the company in charge of installing and operating the twenty stations, alongside Engie, the Auvergne-Rhône-Alpes region, the Caisse des Dépôts, and Crédit Agricole.