Symbio, the joint hydrogen‑fuel‑cell venture owned by Michelin, Forvia and Stellantis, announced a comprehensive restructuring and refinancing plan on December 3, 2025. The plan reorganizes the venture’s ownership structure, secures new capital, and reduces the workforce from 506 to 175 employees, a cut of 358 jobs that reflects the loss of Stellantis as a major customer.
The restructuring was triggered by Stellantis’ decision in July 2025 to discontinue its hydrogen fuel‑cell development program. Stellantis had accounted for roughly 80 % of Symbio’s business volume; its exit left the venture with a much smaller market share and forced a reassessment of its scale and focus. The new structure is designed to align the remaining partners—Michelin and Forvia—with a leaner, more sustainable operation.
Under the new plan, Symbio will concentrate production at its Saint‑Fons, France, gigafactory, SymphonHy, and set a target of 10,000 fuel‑cell systems per year by 2028‑2030. The reduction in staff is intended to lower operating costs and improve margin stability while the company continues to develop hydrogen solutions for commercial vehicles and industrial applications.
Michelin and Forvia have reaffirmed their commitment to hydrogen mobility, viewing it as a long‑term growth area. Their continued investment signals confidence in the technology, even as the venture scales back its workforce and production capacity to match the reduced demand profile.
The restructuring reflects broader market dynamics: hydrogen infrastructure remains limited, and many automakers—including Stellantis—are shifting focus toward battery‑electric vehicles under their “Dare Forward 2030” plans. Symbio’s pivot to a smaller, more focused operation positions it to navigate the niche hydrogen market while maintaining a strategic partnership with Michelin and Forvia.
Sentiment for the announcement is neutral, as the restructuring balances the negative impact of job cuts with the positive outlook of a focused, capital‑efficient strategy for the remaining hydrogen business.
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