Symbio and Schaeffler to form a joint venture.

Symbio, a Faurecia & Michelin joint venture, and Schaeffler, a global supplier to the automotive and industrial sectors, agreed to form a joint venture. Financial terms were not disclosed. “Metallic fuel cell bipolar plates are a strategic high added value component of the fuel cell system. Innoplate will be instrumental to secure serial production capability underpinning our customers’ programs and the Hydrogen mobility market uptake, while accelerating enhanced system performance and an effective step-up in cost competitiveness of our solutions. Furthermore, it is testimonial of Symbio’s engagement to build technological and industrial leadership in Europe,” Philippe Rosier, Symbio CEO.