Stellantis said on Wednesday that it will stop investing in its hydrogen fuel cell technology development joint venture, citing limited refueling infrastructure, high capital costs, and lack of consumer incentives.
According to a statement by the group, the Fiat maker “does not anticipate the adoption of hydrogen-powered light commercial vehicles before the end of the decade.”
The announcement comes a day after both Forvia and Michelin, which were a part of Symbio along with Stellantis, told Bloomberg that the automaker was withdrawing its support on the joint venture.
Forvia said it was “made aware of Stellantis’ intention to stop its investments in hydrogen from 2026,” a move with “serious and immediate operational and financial consequences for Symbio’s future.”
Michelin told the media outlet that it was an “unexpected, sudden and uncoordinated decision,” considering that “Stellantis has always stated its ambition to be a pioneer in this new market.”
Stellantis has partnered with Forvia and Michelin to develop hydrogen-powered vehicles back in 2023.
By then, the automaker acquired an equal 33.3% stake in Symbio, with Forvia and Michelin remaining shareholders with 33.3% holdings each.
With this investment cut, Stellantis said will “no longer launch its new range of hydrogen-powered Pro One vehicles this year.”
Production for the mid-sized and large vans was set to start this summer in France and Poland.
“The hydrogen market remains a niche segment, with no prospects of mid-term economic sustainability,” said Jean-Philippe Imparato, Chief Operating Officer (COO) for Enlarged Europe and Head of European Brands at Stellantis.
Imparato added that the group “must make clear and responsible choices” to grant competitiveness, therefore focusing on the “electric and hybrid passenger and light commercial vehicles offensive.”
According to Stellantis, the decision “will not impact staffing” at their production sites and “R&D activities related to hydrogen technology will be redirected to other projects.”
