Clarifications from Forvia and Michelin regarding the future of Symbio

Forvia and Michelin were informed in May of Stellantis’ intention to halt its hydrogen-related activities as of 2026. This unexpected shift comes despite Stellantis being both a co-shareholder and Symbio’s main customer, having long carried the ambition of shaping the hydrogen mobility market for light commercial vehicles. Stellantis’ orders alone account for approximately 80% of Symbio’s planned production volume.

Over the past two years, Symbio has scaled its investments, hiring, and development roadmap based on Stellantis’ stated needs for the next eight years. The technology and performance of Symbio’s systems have been validated by all shareholders, including Stellantis’ own teams. More recently, as part of the French government’s call for projects* announced in April 2025, Symbio was fully prepared to produce hydrogen fuel cells for Stellantis vehicles eligible under this scheme.

Stellantis’ decision will have irreversible operational and financial consequences for Symbio. Michelin and Forvia are particularly concerned about the impact on Symbio’s 590 employees in France and 50 employees abroad.

In this context, Michelin and Forvia are in close contact with public authorities.

^{_{* The French government launched a call for projects in May 2025 focused on hydrogen-powered light commercial vehicles (LCVs), as part of the national strategy for decarbonized mobility. Announced under the National Hydrogen Strategy, the LCV H2 Call for Projects was published on May 17, 2025. Operated by ADEME, it aims to support projects for the acquisition or leasing of new hydrogen-powered LCVs with a gross vehicle weight rating (GVWR) of 2.5 tons or more. This initiative seeks to offset the additional cost of hydrogen versions compared to battery-electric equivalents, by supporting their industrialization and adoption.}}

About Forvia

FORVIA, a global automotive technology supplier, comprises the complementary technology and industrial strengths of Faurecia and HELLA. With over 150,000 people, including more than 15,000 R&D engineers across 40+ countries, FORVIA provides a unique and comprehensive approach to the automotive challenges of today and tomorrow. Composed of 6 business groups and a strong IP portfolio of over 13,000 patents, FORVIA is focused on becoming the preferred innovation and integration partner for OEMs worldwide. In 2024, the Group achieved a consolidated revenue of 27 billion euros. FORVIA SE is listed on the Euronext Paris market under the FRVIA mnemonic code and is a component of the CAC SBT 1.5° index. FORVIA aims to be a change maker committed to foreseeing and making the mobility transformation happen. www.forvia.com

About Michelin

Michelin is building a world-leading manufacturer of life-changing composites and experiences. Pioneering engineered materials for more than 130 years, Michelin is uniquely positioned to make decisive contributions to human progress and to a more sustainable world. Drawing on its deep know-how in polymer composites, Michelin is constantly innovating to manufacture high-quality tires and components for critical applications in demanding fields as varied as mobility, construction, aeronautics, low-carbon energies, and healthcare. The care placed in its products and deep customer knowledge inspire Michelin to offer the finest experiences. This spans from providing data- and AI-based connected solutions for professional fleets to recommending outstanding restaurants and hotels curated by the MICHELIN Guide. Headquartered in Clermont-Ferrand, France, Michelin is present in 175 countries and employs 129,800 people. www.michelin.com